(Adds comments on production impact, bridge collapse, details
of Moa and Sherritt operations)
TORONTO Nov 23 Four workers at a Sherritt
International Corp joint venture in Cuba died on Tuesday,
when a municipal bridge they were repairing collapsed, the
Canadian miner said on Wednesday.
Sherritt, which owns 50 percent of the Moa nickel operation
with General Nickel Company SA of Cuba, said the bridge had been
damaged by Hurricane Matthew in October and workers have been
repairing the structure since late last month. The bridge
provides access to the Moa mine and plant, which are operating
at reduced rates, the company said.
The impact on production will depend on how quickly a
secondary access route to the mine operation can be put into
place, Sherritt said. The Toronto-based company expects to
announce more information in coming days.
The bridge crosses a shallow river and is the main access
from the local town and port of Moa to the mine site and a acid
leach plant. An investigation into the accident is under way,
Sherritt said, adding that the last reported fatality at Moa was
a decade ago.
Sherritt was not immediately available for comment.
In a recent interview, the company said that Moa would
return to profit next year if prices for the metal remained at
Chief Executive David Pathe said prices, which have risen
some 20 percent this year from multi-year lows, could even
improve given global nickel supplies were expected to swing into
Pathe expected little if any profit from Sherritt's Cuban
nickel business in 2016 but forecast $50 million to $70 million
in earnings before interest, taxes, depreciation and
amortization (EBITDA) from its Cuban oil and power ventures.
Nickel is essential in the production of stainless steel and
other corrosion-resistant alloys. Beyond its Cuba venture,
Sherritt has a stake in a large Madagascar nickel mine.
The Canadian company has been operating in Cuba for more
than two decades.
(Reporting by Susan Taylor; Editing by Grant McCool and Steve