Sherritt Resolves Strike at its Ambatovy Mine and Provides Production Update

Sherritt International Corp. (TSX:S) announced that the employee strike at the Ambatovy joint venture has ended and the mine has returned to normal production and provided a production update for March.

As quoted in the press release:

For the month of March, finished nickel production was 1,231 tonnes (3,078 tonnes, 100 percent basis), or approximately 60 percent of nameplate capacity, and finished cobalt production was 86 tonnes (215 tonnes, 100 percent basis). Ore throughput in the pressure acid leach (PAL) circuit was 344,007 tonnes (100 percent basis), or approximately 69 percent of nameplate capacity.

On March 23, 2015, Sherritt announced that Ambatovy successfully achieved a production test milestone when it reached a production rate equivalent to 54,000 tonnes of nickel on an annualized basis (approximately 90 percent of nameplate capacity), measured over 90 days in a 100-day continuous period. Upon receiving verification of the performance by the lenders’ independent engineer, this will be the sixth of 10 certificates to be completed towards financial completion. The remaining four certificates (efficiency, environmental, financial, and legal and other conditions) are expected to be delivered as they are achieved by September 30, 2015.

Click here to read the full Sherritt International Corp. (TSX:S) press release.