Canadian Mining Firm Suspends Cuba Activities as Fuel Crisis Deepens
The company said it is taking steps to “pause mining operations and place the processing plant on standby within the next week during which time, planned maintenance activities will be performed.”
Sherritt noted it was informed that scheduled fuel shipments for Moa “will not be fulfilled,” and no date has been set for when deliveries might resume. In response to the uncertainty, the company said it is “actively engaging with relevant counterparts and evaluating all options for sourcing input commodities.”
“Currently, there is no immediate impact on operations in Fort Saskatchewan, Alberta,” the company added, stating that its refinery there continues producing finished nickel and cobalt for sale.
However, existing feedstock at Fort Saskatchewan is expected to sustain production only until roughly mid-April, according to the company’s release.
Sherritt, a major producer of nickel and cobalt using hydrometallurgical processes, operates what it describes as the only significant cobalt refinery in North America and one of just three nickel refineries on the continent.
The move comes amid a worsening fuel crisis in Cuba, which has struggled after the United States cut off oil supplies from long-time ally Venezuela, historically responsible for tens of thousands of barrels of daily shipments to the island.
U.S. President Donald Trump has also threatened to levy tariffs on countries that supply oil to Cuba — part of a broader U.S. pressure campaign following its Jan. 3 military operation to capture Venezuelan President Nicolas Maduro, a close supporter of Cuba’s government. The administration in late January declared the Cuban government to pose “an unusual and extraordinary threat” and cited that as justification for a national emergency order.
Cuba currently meets about one-third of its energy demand with domestic production but relies on imports — principally from Mexico and, to a lesser extent, Russia — with Venezuela accounting for roughly 30% of total energy supplies in 2025, according to reports from a Spanish news agency.
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