Canadian miner Sherritt International says it is pausing or withdrawing from its Cuba-linked joint venture activities after the United States expands sanctions targeting the island. Multiple reports say the move follows a new US executive order signed by President Donald Trump on May 1, which broadens sanctions to include additional sectors and entities tied to Cuba’s economy, including areas connected to energy and defense and sources of foreign investment. Sherritt, which has operated for decades in Cuba—particularly through a nickel and cobalt project at Moa in eastern Cuba with Moa Nickel SA—treats the expanded US restrictions as a direct constraint on continued participation.
Accounts from Bloomberg and CBC indicate Sherritt initially halted joint-venture activities or considered unwinding its Cuba business, then reversed an earlier plan to dissolve after consulting advisers, stakeholders, and relevant government authorities, including further updates on its decision. Other outlets describe the potential economic and market impacts, noting that the suspension reduces foreign investment in Cuba and could affect supply related to cobalt and other metals associated with the project. The company’s next steps are presented as contingent on ongoing consultations and compliance with the evolving US sanctions regime.
