R/€ = 16.58 Change: -0.04
R/$ = 14.40 Change: 0.04
Au 1226.62 $/oz Change: 4.30
Pt 830.50 $/oz Change: -3.11


Sumitomo sees Ambatovy at 50% utilisation rate in Jan to March

By: Reuters     8th February 2018 Sumitomo said on Thursday it expects its Ambatovy nickel/cobalt project in Madagascar to run at about a 50% utilisation rate in the January-March quarter, rising to 80% from April. The trading house said last week that the project had resumed operations from end-January after halting operations... 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Electric vehicle growth puts pressure on nickel supply

By: Robyn Wilkinson     8th December 2017 Global research and consultancy firm Wood Mackenzie estimates that nickel demand for electric vehicle (EV) batteries will increase from about 40 000 t in 2016 to 220 000 t in 2025, as demand for hybrid, plug-in and full EVs grows in developed countrie 

Sherritt forecasts higher 2017 nickel output

By: Mariaan Webb     1st February 2017 Canada-based Sherritt International Resources is forecasting higher nickel production in 2017, especially from its 40%-owned Ambatovy nickel and cobalt joint venture (JV), in Madagascar. The diversified miner on Tuesday provided a nickel production guidance (100% basis) of 81 000 t to 86 000 t... 

Sherritt widens loss as output slows; lowers Ambatovy FY guidance

By: Henry Lazenby     25th October 2016 Canadian diversified miner Sherritt International Resources has, for the second time this year, cut the nickel guidance at the 40%-owned Ambatovy mine, in Madagascar, citing a tailings pipe blockage and total shutdown that occurred in June and July, followed by weak output in August. The... 

Ambatovy JV defers principal payment, Sherritt continues not to fund cash calls

By: Henry Lazenby     15th June 2016 Canadian diversified miner Sherritt International has announced that the group of lenders to its 40%-owned Ambatovy nickel and cobalt mine, in Madagascar, have entered into temporary agreement to defer a principal repayment due on Wednesday, to August 5. The Toronto-headquartered company said an... 

Sherritt braces for C$1.6bn impairment of nickel assets

By: Natalie Greve     13th January 2016 Nickel miner and refiner Sherritt International Corporation has cautioned the market of an expected $2.4-billion impairment of the Ambatovy joint venture (JV) assets, in Madagascar, citing lower forecast nickel prices. The expected impairment figure was based on an expected nickel price of $8.50/lb. 

Worker dies at Sherritt’s Ambatovy operation, Madagascar

By: Henry Lazenby     21st August 2015 A contract worker has died from head injuries after being struck by a falling tree at diversified miner Sherritt International’s Ambatovy joint-venture (JV) project, in Madagascar. TSX-listed Sherritt reported that an employee of a tree-clearing contractor was working  in a future mining area on... 

Sherritt's Madagascar Ambatovy project puts in strong July performance

By: Henry Lazenby     6th August 2015 Multinational miner Sherritt International has reported much-improved quarter-over-quarter operating metrics at its Ambatovy nickel/cobalt project, in Madagascar. For July, finished nickel output was 1 694 t (4 236 t on a 100% basis), or about 83% of nameplate capacity, and finished cobalt output... 

Madagascar nickel project suffers another setback

By: Henry Lazenby     4th June 2015 Diversified Canadian resource company Sherritt International has suffered another setback at the Ambatovy nickel/cobalt project, in Madagascar. Strikes at both the mine and plant, and a transformer failure had choked the operation’s ability to ramp up to the coveted 90% of design capacity for 90... 

Strike action hinders Sherritt's Ambatovy project from finding stride

By: Henry Lazenby     6th May 2015 Strike actions involving a portion of Sherritt International’s workforce at the Ambatovy mine and, subsequently, at the Ambatovy plant, in Madagascar, was hindering the operation’s ramp-up to commercial production. For April, finished nickel output was 1 244 t, or 3 110 t on a 100% basis, about... 

Ambatovy ramp-up continues despite reduced output in March

By: Henry Lazenby     6th April 2015 Diversified Canadian miner Sherritt International has advised that finished nickel output at its Ambatovy project, near Moramanga, Madagascar, was lower than expected owing to a plant shutdown in late February following a hydrogen sulphide gas release and a recent strike. For March, finished... 

Sherritt International achieves major production milestone at Madagascar nickel project 

By: Henry Lazenby     23rd March 2015 Pending independent verification, multinational miner Sherritt International has achieved a significant production milestone at its Ambatovy nickel project, in Madagascar, after securing the sixth – and one of the most critical – of ten certificates under the terms of the project’s financing... 

Sherritt International swings to Q1 loss

By: Henry Lazenby     30th April 2014 Diversified Canadian miner Sherritt International on Wednesday reported a first-quarter net loss, as a charge at its new Ambatovy nickel mine, in Madagascar, and financing costs related to a weakening Canadian currency impacted on its results. The Toronto-based miner, which specialises in mining... 

Sherritt International declares commercial production at Madagascar operation

By: Henry Lazenby     25th January 2014 Nickel major Sherritt International this week announced that it had achieved commercial production at its Ambatovy nickel operations, in Madagascar. Ambatovy, located on the island nation, is the largest finished nickel and finished cobalt operation from lateritic ore in the world. 

Sherritt reports Q3 loss on lower nickel prices

By: Henry Lazenby     31st October 2012 TSX-listed Sherritt International posted a C$22.6-million or 8-Canadian-cents-a-share loss for the third quarter as a result of lower nickel prices and volumes, and lower thermal coal export volumes, which weighed on revenue. The 150% drop in profit, when compared with the C$45.5-million 16... 

Inmet to keep 80% of Cobre Panama, remains ‘open minded’

By: Henry Lazenby     7th May 2012 Panama mine developer Inmet Mining on Monday said it would hold on to its 80% interest in the Cobre Panama copper/gold/molybdenum project, while CEO Jochen Tilk added that the company remained “open minded” to potential suitors. The company, in which parent Minera Panama SA holds an 80%... 


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