Nov 29 Sherritt International Corp cut
its full-year production forecast for its joint nickel venture
in Cuba following the collapse of a municipal bridge there last
week that killed four workers.
The Canadian miner lowered its finished nickel production
forecast for the Moa operation to 32,500-33,000 tonnes, from
However, Sherritt said that its finished cobalt production
forecast remained unchanged as higher volumes of third-party
feed offset the impact of reduced production.
Sherritt owns 50 percent of the Moa operation with General
Nickel Company SA of Cuba.
Last week, Sherritt said the workers had died when the
bridge they were repairing collapsed. The bridge had been
damaged by Hurricane Matthew in October and workers have been
repairing the structure since late last month.
The bridge crosses a shallow river and is the main access
from the local town and port of Moa to the mine site and an acid
Sherritt said on Tuesday that a temporary bypass over the
river is in place.
Plant operations have resumed, although transport is
affected by longer travel times and the need to carry lighter
loads, Sherritt said.
The Toronto-based company said that the timing of more
permanent repairs to the damaged bridge or a replacement of the
bridge is still unknown.
Shares of Sherritt were down 9.3 percent at C$1.17 in late
(Reporting by Arathy S Nair and Ahmed Farhatha in Bengaluru;
Editing by Maju Samuel)