Sherritt International
From Wikipedia, the free encyclopedia
| Sherritt International Corporation | |
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| Type | Public (TSX: S) |
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| Founded | 1927 |
| Headquarters | Toronto, Ontario |
| Key people | Jowdat Waheed, President & CEO Ian W. Delaney, Chairman |
| Industry | Mining, Oil and Gas |
| Products | nickel, coal, oil, gas, energy |
| Revenue |  $1.096 billion CAD (2005) |
| Employees | 835 (2005) |
| Slogan | "The Power of Resources" |
| Website | Sherritt.com |
Sherritt International (TSX: S) is a canadian energy company, based in Toronto, Ontario. It is involved in nickel and cobalt mining, thermal coal production, oil and gas exploration and production, and electricity generation. Sherritt is one of the largest foreign investors in Cuba, and the Canadian company with the largest business interests there.
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[edit] Operations
[edit] Mining
Sherritt has most of its profit coming from mining operations (40%), with mines in Moa, Cuba, and a metal refinery in Fort Saskatchewan, Alberta, Canada.
Sherritt coal revenue is derived from its 50% holding of Luscar Energy Partnership.
[edit] Oil and gas
Sherritt operates oil and gas fields confiscated from Consolidated Oil (a US Company) in Cuba (Varadero, Canasí, Yumuri, Puetro Escondido) and has interest in some fields in Spain.
[edit] Electricity
Sherritt owns 30% of Energas, an electricity producing company in Cuba.
[edit] History
- 1927: Incorporation of Sherritt Gordon Mines Limited.
- 1954: Construction of the refinery at Fort Saskatchewan, Alberta.
- 1991: Sherritt acquires Canada Northwest Energy Limited, a producer of oil and gas.
- 1993: Company renamed to Sherritt Inc.
- 1994: Sherritt becomes the largest producer of nitrogen and phosphate fertilizers in Canada after acquiring fertilizer assets from Imperial Oil Limited.
- 1995: Incorporation of Sherritt International Corporation, with interest in mining, oil and gas and technology business in Cuba. Nickel, cobalt, oil and gas production begins in Cuba..
- 1998: Creation of Sherritt Power Corporation, building gas-fired electricity generation plants in Cuba, with a 30% interest in Energas.
- 2001: Creation of Luscar Energy Partnership in cooperation with Ontario Teachers' Pension Plan Board by acquiring Luscar Ltd., Canada’s largest coal producer.
