US Treasury Grants Sherritt International License for Cuba Shipments

Sherritt International Corp. received a rare license from the United States Treasury Department’s Office of Foreign Assets Control allowing the Canadian miner to ship fuel, fuel oil, and sulfur to its Moa nickel operation in Cuba. The authorization serves as a critical step in the company's effort to restart production and secure a financial rescue for the struggling mine.

This fuel license is the first in a series of emergency authorizations sought by the company and the U.S. investment firm Gillon Capital LLC. The partners intend to use these licenses to resume mining and processing activities in Cuba as well as refining operations in Canada.