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Nickel and cobalt miner and refiner Sherritt International said it has ended its “historical payment uncertainty” by finalising five-year payment agreements with its Cuban partners to settle outstanding receivables of C$361.9 million (US$263.78).
If the total outstanding receivables are not fully repaid by the end of 2027, interest will accrue retroactively at 8% from the beginning of 2023.
On 1 January, 2023, Sherritt's 50/50 Moa joint venture partner, Cuba's General Nickel Company is to assume the outstanding receivable amounts of C$332.
Mining inflation spreads to Cuba
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