Sherritt International

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Sherritt International Corporation
Type Public (TSX: S)
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)
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.

Contents

[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 leased from the Cuban government (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.
  • 2007: Sherritt acquires Dynatec mining corporation in a friendly takeover. Among the assets was the Ambatovy nickel project in Madagascar.

[edit] External links

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