U.S. sanctions shutter Canada's only cobalt refinery
2026-06-24 11:45:02 [Print]
Sherritt International has begun shutting down its Fort Saskatchewan refinery after expanded U.S. sanctions on Cuba cut off the feedstock supply needed to keep the Alberta-based facility running.
The Toronto-headquartered nickel and cobalt producer said the move follows previous guidance that refinery operations would only continue until mid-June based on available inventory. The company has initiated shutdown procedures and will retain the personnel and resources necessary to maintain the facility in a safe and secure state while operations are suspended.
Sherritt said it is preserving cash, controlling costs, and preparing the refinery for a potential restart, while carrying out maintenance work during the shutdown period.
The closure represents the latest fallout from Washington's hardening stance on Cuba and underscores the fragility of supply chains reliant on the island's mining sector.
Sherritt extracted nickel and cobalt at its Moa joint venture in eastern Cuba and processed the material at its refinery near Edmonton.
The refinery will remain idle until mining and processing activities at Moa resume and the feed pipeline is reestablished. Sherritt said it cannot provide a timeline for when that might occur and continues to suspend its direct involvement in the Cuban joint venture.
The Toronto-headquartered nickel and cobalt producer said the move follows previous guidance that refinery operations would only continue until mid-June based on available inventory. The company has initiated shutdown procedures and will retain the personnel and resources necessary to maintain the facility in a safe and secure state while operations are suspended.
Sherritt said it is preserving cash, controlling costs, and preparing the refinery for a potential restart, while carrying out maintenance work during the shutdown period.
The closure represents the latest fallout from Washington's hardening stance on Cuba and underscores the fragility of supply chains reliant on the island's mining sector.
Sherritt extracted nickel and cobalt at its Moa joint venture in eastern Cuba and processed the material at its refinery near Edmonton.
The refinery will remain idle until mining and processing activities at Moa resume and the feed pipeline is reestablished. Sherritt said it cannot provide a timeline for when that might occur and continues to suspend its direct involvement in the Cuban joint venture.
Nickel Cathode 99.96%min EXW China
Unit:RMB/mt
China nickel sulfate producers' number MoM output increase statistics by province by month
Unit: pcs
