Sherritt International Corporation (SHERF)

Overview

Sherritt International Corporation is a multifaceted enterprise that engages in the mining, refining, and sale of nickel and cobalt, primarily sourced from lateritic ores in Canada and Cuba. With a history dating back to 1927, the company has evolved into a significant player in its field, diversifying its operations across various segments. These include Moa Joint Venture and Fort Site, Metals Other, Oil and Gas, Power, and Technologies. Apart from its core mining activities, Sherritt is involved in the production and sale of agricultural fertilizers in Western Canada, exploration and production of oil and gas primarily off the north coast of Cuba, electricity generation from natural gas, and provision of technical support and technology development services. Its registered office is located in Toronto, Canada, marking its position as a major corporation with international operations and contributions to the industries it serves.

Products and Services

Sherritt International specializes in the extraction, processing, and marketing of nickel and cobalt, metals that are essential for the manufacture of various industrial and consumer products, including rechargeable batteries and stainless steel. The company utilizes lateritic ores primarily from its operations in Canada and Cuba, focusing on efficient and environmentally sustainable practices.

The company produces and markets agricultural fertilizers, recognizing the importance of nourishment for crops in Western Canada. With facilities for additional storage and administration located in Fort Saskatchewan, Alberta, Sherritt plays a crucial role in supporting the agricultural sector by providing essential nutrients required for plant growth.

Engaging in the exploration and production of oil and gas, Sherritt focuses on offshore reservoirs off the north coast of Cuba. This segment underlines the company's diversification into the energy sector, contributing to its strategy of spreading risks and tapping into various revenue streams.

The company operates two combined cycle plants at Varadero and Boca de Jaruco, with a generating capacity of 506 megawatts. By generating and selling electricity derived from natural gas and steam from waste heat, Sherritt showcases its commitment to energy efficiency and the provision of sustainable energy solutions.

Sherritt extends its expertise beyond its primary operations to offer services in technical support, process optimization, and technology development. These services are designed to improve operational efficiencies, promote sustainability, and foster innovation within the industries it serves, evidencing the company’s dedication to not just its core areas of business but also to contributing broadly to technological and process advancements.