Sherritt International Corporation
| Production volumes | December 31, 2024 Full year Actual | 2025 Guidance |
|---|---|---|
| Moa Joint Venture (tonnes, 100% basis) | ||
| Nickel, finished | 30,331 | 31,000 - 33,000 |
| Cobalt, finished | 3,206 | 3,300 - 3,600 |
| Electricity (GWh, 33⅓% basis) | 816 | 800 - 850 |
| Unit operating costs(1) | December 31, 2024 Full year Actual | 2025 Guidance |
|---|---|---|
| Metals NDCC(2), (US$ per pound) | $5.94 | $5.75 - $6.25 |
| Electricity (unit operating cost, $ per MWh) | $34.29 | $23.00 - $24.50 |
| Spending on capital(1)($ millions) | December 31, 2024 Full year Actual | 2025 Guidance |
|---|---|---|
| Sustaining | ||
| Moa Joint Venture (50% basis), Fort Site (100% basis) | $15.2 | $35.0 |
| Moa Joint Venture Tailings Facility (50% basis) | $13.1 | $40.0 |
| Power (33⅓% basis) | $2.9 | $2.0 |
| Growth | ||
| Moa Joint Venture (50% basis) | $11.4 | $5.0 |
| Spending on capital(3) | $42.6 | $82.0 |
(1) Non-GAAP financial measures. Full year 2024 actual amounts for unit operating cost/NDCC and spending on capital at December 31, 2024 are incorporated by reference to Sherritt’s Management Discussion and Analysis (MD&A) for the year ended December 31, 2024, dated February 5, 2025, which is available on Sherritt’s website (www.Sherritt.com). These amounts can also be found in the Q4 2024 Financial Report in the Review of Operations section: Metals (Moa Joint Venture and Fort Site) – page 41, Power – page 47. The MD&A is also available on SEDAR+ (www.SEDARplus.ca). The primary determinants impacting unit operating costs are: for Moa Joint Venture production levels, cobalt and fertilizer prices and input commodity prices, primarily sulphur; for Power, the primary determinants are production levels and maintenance costs. The primary determinants impacting spending on capital are liquidity, timing of expenditures and foreign exchange rates (as most purchases are denominated in U.S. dollars). For additional information on significant guidance determinants, see the Outlook section of the MD&A starting on page 50 of the Q4 2024 Financial Report.
(2) Net direct cash cost (“NDCC”)
(3) Excludes negligible spending on capital for Metals Marketing, Oil & Gas and Corporate and Other segments.