Cuba wants to expand the role of Sherritt in the energy sector

Cuba wants to expand the role of Sherritt in the energy sector

HAVANA, March 6th The president of Cuba, Miguel Díaz-Canel, and the president of Sherritt International, Leon Binedell,

spoke in Havana about how to “deepen” the participation of the Canadian company in the Cuban economy, especially in the energy sector.

The Granma newspaper described this Saturday as “cordial” the meeting between Díaz-Canel and Binedell, held the day before at the Palace of the Revolution, headquarters of the Executive of the Caribbean country.

“Both parties discussed the potentialities that exist for, even in the midst of the intensification of the United States blockade, deepening the participation of this company in the economic development of Cuba, especially in activities such as mining, oil prospecting and the generation of energy,” the report added.

Sherritt, one of the foreign companies with the largest presence on the island, operates in a joint venture in the Moa mining area (Holguín province, east).

In a previous visit to Cuba in November 2021, the executive of the company based in Toronto (Canada) said that he intended to increase nickel production in Moa, to continue exploiting the deposits for “several decades,” according to local media.

That mining complex produced 31,506 tons of nickel in 2020, lower than the forecast figure of 33,000 tons for that period.

Sherritt is also working on the exploration and drilling of crude oil in the northern Cuban platform, in conjunction with the state company Unión Cuba Petróleo (Cupet).

His interests in Cuba began in 1991 in the extraction of nickel and cobalt, the exploration and production of oil and gas, which has subsequently spread to other spheres, such as electricity, agriculture and tourism.