Sherritt’s beginnings date back over 95 years with the incorporation of Sherritt Gordon Mines Limited. Click on the tabs below to explore Sherritt’s storied history

1927: Sherritt Gordon Mines Limited

Sherritt Gordon Mines Limited is incorporated to develop resources, principally base metals.

1930 - 1951: Sherridon Mine

Sherridon Development Company (“Sherridon”) is formed to provide services and build the Town of Sherridon, Manitoba to support Sherritt Gordon’s copper mine in development. Mine production begins in 1931 and remains active until its closure in 1951.

1941 – 1976: Lynn Lake Mine and Fort Saskatchewan Refinery Construction

Sherridon identifies the first significant discovery of nickel at Lynn Lake, Manitoba in 1941.

Construction begins on the refinery at Fort Saskatchewan, Alberta in 1952 to take advantage of abundant supplies of water and natural gas required to make the ammonia for the refinery as well as proximity to the Canadian National Railway line. The refinery is completed in 1954.

The ore production from the Lynn Lake mine begins in 1953 and concentrate is shipped by rail from Manitoba to Fort Saskatchewan. The mine continued to produce until 1976.

1947 – Present: History of Innovation

Sherritt begins to fund the University of British Columbia (UBC) to experiment with hydrometallurgical techniques for ore processing. UBC discovered a direct ammonia leach method that had the potential to simplify the processing of nickel concentrates. In 1949, Sherritt builds its first pilot plant in Ottawa to further develop the ammonia leach process. In 1955, Sherritt’s research division is transferred from Ottawa to Fort Saskatchewan with the pilot plant equipment transferred to form the basis of a cobalt refinery. In 1969, Sherritt licenses its first ammonia pressure leach process for nickel concentrates and mattes to Western Mining Corp (Australia), and its acid pressure leaching process for PGM-bearing nickel-copper mattes to Impala Platinum (South Africa). Sherritt has licensed its HPAL to more than 40 sites worldwide across base and precious metals segments.

1961 -1996: Coinage Business

Sherritt develops a coinage business, starting with shipments of nickel blanks from Fort Saskatchewan’s Rolling Mill to the Royal Canadian Mint. Within a decade, the Rolling Mill begins producing coin blanks for multiple countries as well as commemorative medallions. In 1976, Sherritt begins producing nickel bonded steel coinage products. Sherritt exited the coinage business in 1996.

1974: Commercial Production of Nickel From Laterite Ore

Production of refined nickel from the Marinduque-Sherritt-owned Surigao nickel laterite project on Dinagat Island in the Philippines, under license from Sherritt is the first commercial production of refined nickel directly from laterite ores.

1976: Toll Processing

Sherritt’s nickel refinery becomes a toll processor with the closure of the Lynn Lake mine.

1986: One Billion Pounds of Nickel

Metals refinery celebrates one billion pounds of cumulative nickel production.

1991: Acquires Feed from Moa, Cuba

Sherritt begins acquiring feed from the nickel mine in Moa, Cuba for the Fort Saskatchewan refinery.

1991 – 2021: Oil and Gas Operations

Sherritt acquires Canada Northwest Energy Limited (CNW), a Calgary-based producer of oil and natural gas with production sharing agreements in Cuba which becomes its primary oil and gas asset, later expanding to other assets in Pakistan and Spain. Over the life of the various production sharing agreements, Sherritt produced approximately 227 million barrels of oil.

1993: Expansion of Fort Saskatchewan Refinery

Sherritt completes an extensive refurbishment and expansion of its Fort Saskatchewan nickel and cobalt refinery to allow efficient processing of mixed sulphides from Moa Nickel.

1994 – Present: The Moa Joint Venture

Sherritt establishes the Moa Joint Venture through a 50/50 partnership with General Nickel Company S.A. of Cuba. The Moa JV is a vertically integrated joint venture that mines, processes and refines nickel and cobalt for sale worldwide (except in the United States). The joint venture has an open pit lateritic ore mine and processing facility in Moa, Cuba where ore is processed into MSP containing nickel and cobalt. The MSP is transported to its refining facilities in Fort Saskatchewan, Alberta, Canada. The Moa JV currently produces approximately 32 thousand tonnes of high purity nickel and cobalt per annum.

1995 – 1996: Sherritt International Corporation

Sherritt Inc. establishes Sherritt International Corporation, an independent Canadian public company holding ownership in the Moa JV. In 1996, Sherritt Inc. changes its name to Viridian Inc., which merges with a wholly owned subsidiary of Agrium Inc. Sherritt International acquires certain utilities, fertilizer and other assets in Fort Saskatchewan, from which it produces and sells fertilizer, and supplies inputs and utilities to the nickel and cobalt refinery.

1998 – Present: Power Operations (Energas Joint Venture)

Sherritt constructs and operates power-generating facilities in Cuba through a one-third ownership in Energas S.A. Following a series of expansions Energas operates two combined cycle plants with electrical generating capacity of 506 MW that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba.

2001 – 2013: Coal Operations

Sherritt and partner acquires Canada’s largest thermal coal producer to establish its coal operations. Sherritt acquires 100% interest in the thermal coal operation in 2010. The operations were sold in 2013.

2005: Two Billion Pounds of Nickel

Metals refinery celebrates two billion pounds of cumulative nickel production.

2007 – 2020: Ambatovy

Sherritt acquires Dynatec Corporation, including a 40% ownership in the Ambatovy Nickel Project. Construction at Ambatovy is completed and production commences in 2012. Following a prolonged period of low market prices for nickel and cobalt, Sherritt divests its interest in Ambatovy.

2019: Three Billion Pounds of Nickel

Metals refinery celebrates three billion pounds of cumulative nickel production.

2021 - Present: Moa JV Expansion

The Moa JV embarks on an expansion program to increase annual mixed sulphide precipitate (MSP) production by 20%. The low capital intensity program consists of construction of a new slurry preparation plant (SPP) and processing plant enhancements. The SPP is completed on time and under budget while the processing plant enhancements are scheduled for ramp up in 2025.

2022 – Present: Cobalt Swap

In October 2022, Sherritt finalized the Cobalt Swap agreement with its Cuban partners to recover $368 million total outstanding Cuban receivables over five years beginning January 1, 2023. In 2023, Sherritt and its Cuban partners completed the first year of the Cobalt Swap which included receipt of 2,082 tonnes of cobalt from the Moa Joint Venture, which was sold by Sherritt realizing cash receipts of $80 million, as well as receipt of a cash dividend of $64 million (100% basis), and corresponding reduction in the GNC receivable of $76 million. The principal balance of the receivable as at December 31, 2023 was $292 million.

2022 – Present: Power Optimization

In 2022, Cuba’s Executive Committee of the Council of Ministers approved the twenty-year extension of Energas’ Joint Venture generation contract with the Cuban government to March 2043. In 2023 and 2024, three new gas wells began producing additional gas significantly increasing electricity production and efficiency in the Power business and the receipt of dividends in Canada.

2023 - Present: MHP Project

Sherritt is advancing a strategic project to expand midstream processing capacity of critical minerals. The mixed hydroxide sulphate (MHP) Project provides an opportunity to expand Sherritt’s current business into the production of nickel and cobalt sulphates, a key intermediary product required in the electric vehicle battery supply chain, where a current significant gap exists.