Sherritt International Suspends Joint Venture Activities in Cuba

Sherritt International said it has suspended its direct participation in joint venture activities in Cuba following the Trump administration’s expanded sanctions on the country. The company reported the decision on Thursday. It described the suspension as a direct response to the broadened U.S. measures targeting Cuba.

Sherritt International holds substantial nickel and cobalt operations on the island through joint ventures with Cuban state entities.

Its joint ventures have focused on the extraction and processing of nickel, cobalt and other minerals. The suspension affects Sherritt’s direct involvement but does not necessarily terminate the underlying agreements. The company did not disclose the precise financial impact of the suspension.

Sherritt International has previously stated that its Cuban operations represent a material portion of its overall production. Observers will watch for updates on how the decision affects output and revenue in coming quarters.

The Trump administration has expanded sanctions on Cuba since taking office in January 2025. The measures aim to increase economic pressure on the government in Havana. Sherritt International’s announcement marks one of the first corporate responses to the latest round of restrictions.

The company said it would continue to monitor the situation. It has not indicated whether it plans to resume direct participation if sanctions are later eased. Cuban authorities have not yet issued a public statement on the development.