Sherritt says cost to build Ambatovy project grows to US$4.76 billion

The Winnipeg Free Press.com reports that the cost of Sherritt International (TSX:S)’s Ambatovy Nickel/Cobalt project has increased to US$4.76 B.

The story is quoted as saying:

“We have thoroughly reviewed every facet of this project and I am confident the required steps have been taken to keep it on track to produce metal by the summer of 2011,” Sherritt chairman and chief executive Ian Delaney said in a statement.

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