Sherritt gets US license for Cuba mine fuel

Canadian mining company Sherritt said Washington has allowed it to send fuel and other materials needed for nickel extraction to Cuba, after US sanctions pushed the company to halt operations there.

Sherritt said the US Office of Foreign Assets Control granted a fuel license authorising the sale, transport, export, delivery and payment for fuel, fuel oil and sulfur to Moa Nickel, along with related services.

The company said the announcement was aimed at allowing a future resumption of activities at the Moa mine. It said the actual restart of operations at Moa Nickel still depended on receiving a second OFAC emergency license.

Sherritt has mined nickel and cobalt in a joint venture with Cuba's state-owned General Nickel Company S.A. since the 1990s. The company halted operations in Cuba in early May after US sanctions.

Soon after the withdrawal, Sherritt reversed a decision to liquidate its assets and said it was negotiating the sale of 55% of its shares to Gillon Capital, a deal that would make the US firm Sherritt's majority shareholder. Sherritt said talks with OFAC took place in close coordination with Gillon Capital.