Sherritt International Corporation

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

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.

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

Sherritt begins to fund the University of British Columbia (UBC) to experiment with hydrometallurgical techniques for ore processing.

In 1949, Sherritt builds its first pilot plant in Ottawa to further develop the ammonia leach process.

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

The refinery is completed in 1954.

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.

Coinage Business

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).

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.

The mine continued to produce until 1976.

In 1976, Sherritt begins producing nickel bonded steel coinage products.

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

Metals refinery celebrates one billion pounds of cumulative nickel production.

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

Sherritt exited the coinage business in 1996.

Sherritt Inc. changes its name to Viridian Inc., which merges with a wholly owned subsidiary of Agrium Inc.

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.

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 2001. The operations were sold in 2013.

Metals refinery celebrates two billion pounds of cumulative nickel production.

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.

Metals refinery celebrates three billion pounds of cumulative nickel production.

The Moa JV completed its expansion program in 2025 to increase annual mixed sulphide precipitate (MSP) production which is expected to unlock significant value over the mine’s long life.

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. As of December 31, 2025, Sherritt received proceeds from sales of cobalt received under the agreement and cash distributions totaling approximately $170 million and reduced that principal amount outstanding to $277 million.

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.

Three new domestic gas wells brought online in 2023 and 2024 continue to provide additional gas that is significantly enhancing electricity production in the Power division and contributing to higher receipt of dividends in Canada.