Sherritt International

Infobox_Company
company_name = Sherritt International Corporation
company_
company_type = Public (TSX|S)
company_slogan = "The Power of Resources"
foundation = 1927
location = flagicon|Canada Toronto, Ontario, canada
key_people = Jowdat Waheed, President & CEO
Ian W. Delaney, Chairman
num_employees = 2,514 (2008)cite web |url=http://zenobank.com/index.php?symbol=CA;S&page=quotesearch |title=Company Profile for Sherrit International Corp (CA;S) |accessdate=2008-10-09]
market c

industry = Mining, Oil and Gas
products = nickel, coal, oil, gas, energy
revenue = profit$1.096 billion CAD (2005)
homepage = [http://www.sherritt.com/ www.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.

Operations

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".

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.

Electricity

Sherritt owns 30% of "Energas", an electricity producing company in Cuba.

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.

References

External links

* [http://www.sherritt.com/ Sherritt International Corporation] Official site.
* [http://www.sherritt.com/export/sites/sherritt_intl/indexedResources/files/Q405_Press_Release_Mar_1_clean_version3_700_PM.pdf Sheritt 2005 financial statement (pdf)]
* [http://finance.yahoo.com/q?m=w&s=S.TO PAGENAME at Yahoo finance]