Sherritt International Corporation (Sherritt) is engaged in the mining and refining of nickel from lateritic ores with operations in Canada, Cuba and Madagascar. The Company is the independent energy producer in Cuba, with oil and power operations across the island. Sherritt licenses its technologies and provides metallurgical services to mining and refining operations globally. In Cuba, Sherritt has a 50/50 partnership (The Moa Joint Venture) with General Nickel Company S.A (GNC), which annually produces approximately 38,000 tons of nickel plus cobalt. Sherritt explores for, develops and produces oil and gas, primarily from fields situated in Cuba. Sherritt holds an indirect one-third interest in Energas, a joint venture established to generate electricity for sale to the Cuban national electrical grid. The remaining two-thirds interest in Energas is held equally by two Cuban agencies, Union Electrica (UNE) and Cubapetroleo (CUPET).