Search results for: Sherritt International

In Its Annual Report, Sherritt Points Out the Risks of Operating in Cuba

The Canadian company is losing money, according to expert William Pitt, and he fears an intervention by Gaesa in mining management Blackouts, fuel shortages, natural disasters and the loss of 2,100 workers affect the financial results 14ymedio, Havana, 9 March 2025 — The Canadian company Sherritt International has just corrected an omission by the Cuban … Continue reading “In Its Annual Report, Sherritt Points Out the Risks of Operating in Cuba”

Canada’s Sherritt and the Cuban Regime Manage Their Business Through a Discreet Partnership in Barbados

This Caribbean island offers the discretion they need to protect themselves from Helms-Burton 14ymedio, Havana, 23 January 2025 — To sustain business with the Cuban regime, the Canadian mining giant Sherritt International uses multiple ways to evade Washington’s sanctions. With real business acrobatics performed from Switzerland to the Cayman Islands, the company protects itself from … Continue reading “Canada’s Sherritt and the Cuban Regime Manage Their Business Through a Discreet Partnership in Barbados”

Lightning Kills an Employee of Union Del Niquel, a Cuban Partner of the Canadian Sherritt Company in Moa

14ymedio, Havana, 30 May 2023 — A lightning strike caused an electric shock in front of the Nickel Union Service Company in Moa (Holguín) and ended the life of one of the workers, Dunielkis Fonseca Borges, in addition to affecting six other people. All of them were employees of the state company and were waiting … Continue reading “Lightning Kills an Employee of Union Del Niquel, a Cuban Partner of the Canadian Sherritt Company in Moa”

Diaz-Canel and the Photo With Sherritt, Or Is It the Other Way Around?

14ymedio, Elías Amor Bravo, Economist, 5 March 2022 — I admit that I was wrong. Not long ago, I wrote an entry on this blog in which I came to say that I did not find it too interesting for foreign investors in Cuba to take a souvenir photograph with Díaz-Canel. Without a doubt, I … Continue reading “Diaz-Canel and the Photo With Sherritt, Or Is It the Other Way Around?”

Díaz-Canel Meets With the Canadian Sherritt Company to Expand its Energy Activities in Cuba

EFE (via 14ymedio), Havana, 6 March 2022 — Cuban President Miguel Díaz-Canel met in Havana with the president of Sherritt International, Leon Binedell, to talk about the participation of the Canadian company in the island’s economy and the energy sector. As published this Saturday by the official newspaper Granma, the meeting addressed Sherritt’s participation in the … Continue reading “Díaz-Canel Meets With the Canadian Sherritt Company to Expand its Energy Activities in Cuba”

Devoid of Tourists and Canadian Drilling Operations, Boca de Camarioca Is a Shadow of Its Former Self

14ymedio, Fabio Aecio Ettore, Boca de Camarioca (Matanzas province), 11 January 2025 — When Cubans think of the town of Boca de Camarioca, what invariably comes to mind is the mass exodus orchestrated in 1965 by Fidel Castro and Lyndon Johnson, the U.S. president at the time. That stampede was the most notable precursor to … Continue reading “Devoid of Tourists and Canadian Drilling Operations, Boca de Camarioca Is a Shadow of Its Former Self”

Artemisa and Pinar Del Río, Cuba, Are Still Without Electricity, Havana Has Just 15 Percent, While the East Is Better

In Havana’s Plaza de la Revolución district, neighbors have been without electricity for more than 50 hours 14ymedio, Havana, 8 November 2024 — Two days after the impact of Hurricane Rafael in western Cuba and the consequent total collapse of the national energy system (SEN), there are still populated areas of the Island without power. … Continue reading “Artemisa and Pinar Del Río, Cuba, Are Still Without Electricity, Havana Has Just 15 Percent, While the East Is Better”

A US Report Illustrates the Magnitude of the Economic and Social Crisis in Cuba

14ymedio, Havana, October 18, 2024 — The origin of the current economic crisis in Cuba has its roots in 2016, and the country received a mortar blow in 2019, the prelude to the pandemic. This year it has bottomed out. The Economic Research Service of the US Department of Agriculture has written a report that … Continue reading “A US Report Illustrates the Magnitude of the Economic and Social Crisis in Cuba”

Giving Hotels and National Resources to Foreigners Will Not Pay Cuba’s Huge Debt

14ymedio, Juan Izquierdo, Havana, 15 July 2023 — The option of resolving Cuba’s external debt with the transfer of domestic resources to foreign companies, defended this Wednesday by the pro-government professor Juan Triana Cordoví, has been refuted by economist Pedro Monreal. Triana considers this option a way to refinance and “revitalize” socialism on the Island; for … Continue reading “Giving Hotels and National Resources to Foreigners Will Not Pay Cuba’s Huge Debt”

Restrictions on Mineral Extraction Force U.S. to Import Cuban Nickel through Other Countries

14ymedio, Havana, 15 March 2023 — The nickel that the Canadian company Sherritt International extracted from mines in Moa and Punta Gorda, in Cuba’s Holguín province, has a clear pathway to large electric car factories in the United States. In response to pressure from environmentalists, the Biden administration adopted a series of measures in January … Continue reading “Restrictions on Mineral Extraction Force U.S. to Import Cuban Nickel through Other Countries”

The Tokmakjian case and the snares of the law / 14ymedio

14ymedio, Havana, Ignacio Varona, 30 September 2014 – Few expected a magnanimous gesture from the Cuban courts toward the Canadian businessman Vahe Cy Tokmakjian. After he was arrested in September 2011, this 74-year-old man was turned into a test case for those thinking of investing in the Island. “If Tokmakjian is judged too harshly, few … Continue reading “The Tokmakjian case and the snares of the law / 14ymedio”

Eleven News Stories Not Reported in Cuba in 2011 / Ernesto Morales Licea

1. The Arab spring Only when the events in Egypt exceeded the predictions, did the Cuban press note (with tweezers) some isolated incidents. Nor had it published anything earlier about the riots in Tunisia and Yemen, nor did it later dig into the deposition of Hosni Mubarak. On Libya and and the fall of Muammar … Continue reading “Eleven News Stories Not Reported in Cuba in 2011 / Ernesto Morales Licea”

Health and Education Workers Are Among the Lowest Paid in Cuba

The private sector is growing to the detriment of state-owned companies, which have ceased to be the economic engine 14ymedio, Madrid, July 24, 2024 — Despite the obstinacy of the authorities in qualifying the socialist enterprise as the “main mover of the Cuban economy,” the data are stubborn: the only sector in which employment is … Continue reading “Health and Education Workers Are Among the Lowest Paid in Cuba”

The Fall in the Price of Nickel Contradicts the Optimism of the Cuban Government

Expert William Pitt, owner of confiscated mines on the Island, points out that companies are reducing their investments 14ymedio, Havana, 12 April 2024 —  In a video showing a fleet of trucks, backhoes and machinery, the director of Mining in Cuba, Joaquín Ruiz Quintana, said on Wednesday that Cuba plans to export 50,000 tons of … Continue reading “The Fall in the Price of Nickel Contradicts the Optimism of the Cuban Government”

Official Data Confirm the Brutal Deterioration of the Standard of Living of Cubans

14ymedio, Madrid, 12 May 2023 — In 2022, wages in Cuba rose an average of 9.4% compared to the previous year, while the cost of living increased by 39% according to the official data and around 140% if we look at the informal market. The result is a brutal deterioration of the purchasing power of … Continue reading “Official Data Confirm the Brutal Deterioration of the Standard of Living of Cubans”