as tsx s industry mining oil and gas founded 1927 headquarters toronto ontario canada key people harold stephen chairman ; david pathe president & ceo 1 products nickel cobalt oil gas power fertilizer revenue 1.136 billion cad 2014 2 number of employees 7 670 2011 3 website www.sherritt.com sherritt international is a canadian resource company based in toronto ontario . the company s business interests include nickel and cobalt mining oil and gas exploration and production and electricity generation . sherritt is one of the largest foreign investors in cuba . contents 1 operations 1.1 mining 1.2 oil and gas 1.3 electricity 1.4 fertilizer 2 history 3 references 4 external links operations edit mining edit structures on the grounds of the sherritt plant fort saskatchewan alberta canada . sherritt has most of its profit coming from mining operations . sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide . the company has a portfolio of mineral rights on which it earns royalties from the production of potash and other minerals . the company has nickel laterite mines in moa cuba and near moramanga madagascar . sherritt has metal refineries in fort saskatchewan alberta canada and in toamasina madagascar . sherritt produces nickel cobalt ammonia sulphuric acid and ammonium sulphate at its fort saskatchewan facility . the nickel and cobalt mining operations at the ambatovy mine in madagascar began production in second quarter 2012 5 and the ambatovy project received its export permit in q3 2012 . 6 sherritt holds 40 % ownership of the project . sherrit s partners in the project are japan s sumitomo corporation and the korea investment corporation . the ambatovy project is an integrated production system encompassing all stages from mining to refinery in the same country . 7 the ambatovy venture has two nickel deposits located near moramanga madagascar . the ore from these deposits is delivered via pipeline to a processing plant and refinery located near the port of toamasina . oil and gas edit sherritt operates oil and gas fields leased from the cuban government varadero yumuri puetro escondido and has interest in some fields in spain and pakistan . 8 sherritt has invested cdn 215 million for the construction of two integrated gas processing and electrical generation systems in cuba . the natural gas feedstock was previously flared and wasted . these operations commissioned in mid 2002 have a combined capacity of 226 megawatts . sherritt has natural gas activities on the island . sherrit built and operates a natural gas feeder pipeline network and a 30 kilometer pipeline to havana . in 2010 cuba s onshore and coastal 2010 crude oil production was estimated at approximately 50 000 barrels per day of which 11 128 barrels per day represents sherritt s net equity in that production . 9 in cuba sherritt extended one of its existing production sharing contracts until 2028 and signed contracts for two new blocks that have 25 year terms and together encompass more than 1 200 km2 in the same area that the company is already producing . in 2015 sherritt reported its cost to produce oil is less than us 9 per barrel . 10 electricity edit sherritt owns 30 % of energas an electricity producing company in cuba . energas supplies 11.6 % of cuba s electric power . 11 the nickel mined by the company can be used to make cheaper solar cells . 12 nickel is used to make batteries and new developments in batteries use nickel . 13 sherritt has two major joint ventures that produce cobalt . cobalt is a primary component of battery cathodes and cobalt is needed for electric vehicles . 14 fertilizer edit sherritt owns assets which produce fertilizer products primarily for sale in the western canadian market and which provide some of the critical input requirements for the fort saskatchewan metals refinery . revenue is derived primarily from the sale of nitrogen fertilizers and of sulphate fertilizers produced directly or indirectly as a by product of the metals refining process . history edit the company was named after carl sherritt an american citizen and teamster on local rail construction projects who after becoming a trapper and prospector staked copper prospects in the cold lake area of manitoba ; and j. peter gordon a civil engineer who had also worked on the railroad construction . 15 eldon brown was the company s first employee and general superintendent . 16 the sherritt process hydrometallurgical cobalt extraction techniques that enhance recovery from nickel cobalt sulfide concentrates is named for sherritt gordon mines ltd. 1927 incorporation of sherritt gordon mines limited . 17 1954 construction of the refinery at fort saskatchewan alberta . 17 1957 sherritt purchased the interests of chemico in all patents in the chemical metallurgical field in which sherritt was involved . 1991 sherritt acquires canada northwest energy limited a producer of oil and gas . 17 1993 company renamed to sherritt inc. 17 1994 sherritt becomes the largest producer of nitrogen and phosphate fertilizers in canada after acquiring fertilizer assets from imperial oil limited . 17 1995 incorporation of sherritt international corporation with interest in mining oil and gas and technology business in cuba . nickel cobalt oil and gas production begins in cuba . 17 1996 sherritt sells most of its fertilizer businesses to agrium . 17 1998 creation of sherritt power corporation building gas fired electricity generation plants in cuba with a 30 % interest in energas sa . 17 1998 sherritt acquires 37.5 percent share of cubacel the cellular telephone operator in cuba for us 38 million . sherritt also created a company called sherritt green a small agricultural branch of the company cultivating a variety of vegetables for the tourist market . sherritt also acquired a 25 percent share of the las americas hotel and golf course in varadero and a 12.5 percent share of the melia habana hotel . these investments have been sold . 18 2001 creation of luscar energy partnership in cooperation with ontario teachers pension plan board by acquiring luscar ltd. canada s largest coal producer for a deal worth cdn 1 billion . 19 2005 two canadian energy conglomerates sherritt international and pebercan inc have discovered a new oil field off cuba s northern coast containing 100 million barrels of oil . 20 2007 sherritt acquires dynatec mining corporation in a friendly takeover . among the assets was the ambatovy mine nickel project in madagascar . 17 21 2008 sherritt acquires all outstanding shares from royal utilities income trust . royal utilities income trust owned prairie mines & royalty ltd that operates thermal coal mines in saskatchewan and alberta . 22 23 2008 sherritt technologies a division of sherritt international corporation licenses technology to chinese zinc producer . there are more than 35 commercial plants worldwide that currently use sherritt technology . 24 2009 americans are now allowed to make unlimited trips and money transfers to family in cuba sends sherritt shares soaring 25 percent . 25 2010 sherritt to acquire a controlling interest from rio tinto in the sulawesi nickel project in indonesia . the sulawesi project currently ranks as one of the largest known undeveloped greenfield laterite nickel deposits in the world . 26 2011 sherritt doubles its quarterly profit selling in the three month period 9.4 million pounds of nickel 1.1 million pounds of cobalt 9.1 million tonnes of thermal coal 1.1 million barrels of oil and 159 gigawatts of electricity . 27 2013 takota asset management urges sherritt to begin a share buy back program . 28 2013 sherritt increases dividend . 29 2013 s & p dow jones canadian index services makes changes in the s & p tsx canadian indices adding sherritt to the s & p tsx equity income index . 30 2014 sherritt sells coal investments for 946 million cdn to westmoreland . 31 32 references edit 2014 annual report page 23 2014 annual report report . sherritt international corporation . retrieved 2015 10 02 . 2011 annual report report . sherritt international corporation . retrieved 2012 11 28 . company profile for sherrit international corp ca ; s . retrieved 2008 10 09 . sherritt provides ambatovy progress update press release . toronto ontario sherritt international corporation . 2012 04 12 . retrieved 2012 11 28 . ambatovy receives operating permit press release . toronto ontario sherritt international corporation . 2012 09 13 . retrieved 2012 11 28 . the ambatovy project one of the world s largest nickel mining projects . sumitomo corporation . august 2013 . retrieved 2015 10 02 . sherritt s global operations . sherritt . retrieved 2015 10 02 . https web.archive.org web 20140401093254 http www.cubastandard.com 2011 02 23 pinon on energy analyzing sherritt . archived from the original on april 1 2014 . retrieved september 16 2013 . missing or empty title help saywell trish 2015 05 20 . sherritt brings discipline to the business . northern miner . retrieved 2015 10 02 . http imo2.thejakartapost.com eversafe 2013 01 29 cuban national electric system and 6 top power plants dead link coxworth ben 2010 08 05 . nickel and selenium could be used for cheaper more efficient solar cells . retrieved 2015 10 02 . military technology promises battery revolution . energy harvesting journal . 2012 02 16 . retrieved 2015 10 02 . vanzo ryan 2015 06 04 . sherritt international corp. could double because of electric vehicles . the motley fool canada . retrieved 2015 10 02 . chalkley m. e. ; cordingley p. ; freeman g. ; budac j. ; krentz r. ; scheie h. january 14 2009 . a history of sherritt fifty years of pressure hydrometallurgy at fort saskatchewan . republic of mining . retrieved may 23 2016 . eldon leslie brown 1900 1998 . canadian mining hall of fame . retrieved may 23 2016 . a b c d e f g h i werniuk jane february 2008 . marching to a different drum sherritt international at eighty . canadian mining journal . the northern miner group 13 . retrieved 2015 10 02 . ritter arch 2010 10 20 . does sherritt international have a future in cuba . the cuban economy la econom a cubana . retrieved 2015 10 02 . sherritt wins luscar coal with improved bid . cbc news . canadian broadcasting corporation . 2001 04 24 . retrieved 2015 10 02 . https web.archive.org web 20081223161551 http www.cubanet.org cnews y05 jan05 03e3.htm . archived from the original on december 23 2008 . retrieved september 17 2013 . missing or empty title help sherritt international corporation and dynatec corporation announce closing of arrangement press release . toronto ontario sherritt international corporation . 2007 06 14 . retrieved 2015 10 02 . schnurr leah 2008 03 18 . sherritt to buy royal utilities for c 700 mln . canada.com . toronto canwest . reuters . retrieved 2011 06 09 . sherritt succeeds in bid for royal utilities income fund press release . toronto ontario sherritt international corporation . 2008 04 29 . retrieved 2015 10 02 . sherritt technologies a division of sherritt international corporation licenses technology to chinese zinc producer press release . toronto ontario sherritt international corporation . 2008 07 23 . retrieved 2015 10 02 . wright lisa 2009 04 14 . easing of cuba ban lifts sherritt . toronto star . retrieved 2015 10 02 . sherritt to acquire a controlling interest in the sulawesi nickel project press release . toronto ontario sherritt international corporation . 2010 12 01 . retrieved 2015 10 02 . sherritt profit doubles on rising metal prices . the globe and mail . toronto . 2011 10 26 . retrieved 2015 10 02 . critchley barry 2013 05 07 . scott leckie wants action at sherritt international including a stock buy back . financial post . postmedia network . retrieved 2015 10 02 . sherritt announces increase in quarterly