LatinNews Daily - 20 May 2026

*Canadian miner Sherritt International has announced that it will not proceed with plans to dissolve its interests in Cuba, including the dissolution of Moa Nickel SA (MNSA), the joint venture with Cuba’s state-owned mining company, Compañía General de Níquel. Sherritt, Cuba’s main foreign investor, first announced the plans to dissolve its interests in Cuba on 7 May in response to US President Donald Trump’s 1 May executive order which expanded economic sanctions, targeting foreign companies that partner with the Cuban government. However, in a 19 May press release, Sherritt said “following further and ongoing consultation with advisors, stakeholders and relevant governmental authorities… Sherritt is no longer proceeding with the dissolution and disclaimer steps relating to its interests in Cuba”. The Canadian firm added that it has “also been presented on a preliminary basis with a potential value preserving opportunity that [it] is working closely with its advisors to evaluate”. However, Sherritt said that it is maintaining its “suspension of direct participation in joint venture activities in Cuba and will continue to work with stakeholders and advisors to implement appropriate steps” to address Trump’s order. Moa Nickel SA (MNSA) was blacklisted by Washington on 7 May. Sherritt’s nickel and cobalt mining interests in Cuba date back to the 1990s while it also owns a one-third interest in Cuba’s largest independent energy producer, Energas, which represents approximately 10% of the national electrical generating capacity.

End of preview - This article contains approximately 232 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial