DOCSLIB.ORG

Sherritt 2019 Sustainability Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sherritt 2019 Sustainability Report 2019 Sustainability Report SUPPLYING A SUSTAINABLE FUTURE Sherritt’s products contribute directly to global plans for a sustainable future for all So where do Sherritt’s products end up? What is unique about them? What are the opportunities? Scroll down to learn more Sherritt’s products have important roles to play in a sustainable future Each contributes to the development of goods and services which can provide a safe healthy and secure existence for all Our products are used widely in thousands of applications throughout the global marketplace More and more in their efforts to ensure a responsible supply chain customers want to know how we conduct our business Sherritt expects this interest to grow and is prepared for the evolution occurring in supply chain relationships At Sherritt we are committed to ensuring that we operate sustainably and that we are not creating environmental social or economic harm in the areas in which we operate How is Sherritt responding to the sustainability challenges encountered when mining and refining nonrenewable resources? ENSURING THE SAFETY AND HEALTH OF OUR EMPLOYEES AND COMMUNITIES FOSTERING A DIVERSE AND INCLUSIVE WORKFORCE INTERACTING WITH A WIDE RANGE OF STAKEHOLDERS RESPECTING HUMAN RIGHTS ENSURING THE SURVIVAL OF A VIABLE BUSINESS PROTECTING THE ENVIRONMENT PROVIDING BENEFITS TO LOCAL COMMUNITIES ESTABLISHING RESPECTFUL AND PRODUCTIVE RELATIONSHIPS WITH ALL LEVELS OF GOVERNMENT 2019 SUSTAINABILITY REPORT 2 million tonnes million tonnes of CO emissions could be eliminated due to increased fuel efficiency in aviation as the result of improving aerodynamics and engine design using nickelcontaining parts years The average life of nickelcontaining products is in the range of years and for some applications such as roofs and cladding this can go up to years Nickel containing materials and products are necessary for sustainability % More than % the world’s supply of nickel is unsuitable for battery production however % of Sherritt’s Class nickel briquettes and cobalt is suitable for batteries including hybrid and electric vehicles 2019 SUSTAINABILITY REPORT 3 % OF EMPLOYEES AT SHERRITT’S DIVISIONS AND JOINT VENTURES ARE WOMEN AND WE ARE COMMITTED TO DOUBLING THIS TOTAL BY Diversity is an emerging issue across society and is particularly relevant to the natural resources sector given the historically low proportion of women and people of differing backgrounds and abilities in our industry We know that we will become a stronger more innovative and resilient company as we continue to attract a spectrum of people of different cultural backgrounds genders ages and life experience to our company We have begun a multiyear effort to increase our understanding of related challenges and opportunities improve diversity literacy internally align business processes and structures to be more inclusive develop and implement a metrics framework and ultimately improve performance in this area In Sherritt launched an internal global framework for diversity and inclusion D&I which includes sitelevel plans for the next five years Although the initial focus of our D&I strategy was gender the recent events with respect to racism have highlighted the need for us to reevaluate our strategy to ensure we are acknowledging and addressing any systemic issues that impede our desire to be an inclusive and respectful workplace In addition Sherritt announced that we will target doubling the percentage of women in our organization from % to % over the next years 2019 SUSTAINABILITY REPORT 4 OUR CLASS NICKEL AND HIGH PURITY COBALT ARE IDEALLY SUITED FOR USE IN ELECTRIC VEHICLE EV BATTERIES It is impossible to meet the demands of a developing world without nickel and cobalt Batteries which rely on nickel and cobalt are becoming increasingly important for storing renewable energy and supporting the global goals of sustainability and action on climate change ELECTRIC VEHICLE BATTERIES WILL INCREASINGLY RELY ON While nickel batteries have been around for more than a century the last three NICKEL decades have seen extraordinary changes in how batteries are made and used New applications from storing solar energy to powering electric vehicles have emerged These applications are pushing the limits of battery capacity and power resulting in greater demands for higher purity metals This is where Class nickel comes in Unlike nickel pig iron and ferronickel which are highiron alloys Class nickel is highly purified and amenable to battery production particularly for the fast growing electric vehicle market Sherritt is a producer of Class nickel in powder and sintered briquette forms that are easily dissolved and more suitable than cathode nickel for making battery chemicals Sherritt also produces highpurity and ethically produced cobalt in briquette form the most suitable for battery CHANGES DRIVEN BY Cobalt supply constraints production Surging endproduct demand The Moa Joint Venture favorably positions Sherritt to capitalize on the growing demand for electric vehicle batteries as a supplier of highquality ethically sourced Class nickel and highpurity cobalt 2019 SUSTAINABILITY REPORT 5 NICKEL IS USED TO MANUFACTURE STAINLESS STEEL Building infrastructure to last is becoming increasingly topical as cities and countries are burdened with the high costs of maintaining things like hospitals and highways some of which are not particularly old but were built with materials not suited for the intensity of use the geography or other factors For bridges the use of carbon steel rebar has led to the deterioration of concrete over time particularly in regions that use road salt or are near salt water Nickel PICTURED HERE IS THE HELIX containing stainless steel rebar prevents damage to structures caused by rebar BRIDGE IN SINGAPORE MADE corrosion Stainless steel rebar is used in ever increasing amounts today both in FROM NICKELCONTAINING North America and around the world While stainless steel is more expensive its STAINLESS STEEL THE CORROSIONRESISTANT selective use is justified financially when all the costs of maintaining the structure PROPERTIES OF STAINLESS over its life are considered STEEL ARE EXCELLENT FOR THE HUMID CLIMATE In Alberta’s capital city of Edmonton about km southwest of Sherritt’s Fort Site winter is especially hard on the roads with cold temperatures lots of snow and the need to apply large amounts of salt to keep them free of ice In the city specified Type S stainless steel as a trial for one highway interchange on the new ring road that goes around the city The success of that venture led to the specification of Type rebar for a major portion of the new section of the ring road reported to be in the region of tonnes 2019 SUSTAINABILITY REPORT 6 SHERRITT PRODUCES MORE THAN TONNES OF FERTILIZER EVERY YEAR DID YOU KNOW? According to Fertilizer Canada by the world will need to increase food production by % Without fertilizer global food production would be half of current levels requiring farmers to grow more food on land that is increasingly under pressure from development Sherritt’s nickel refinery in Fort Saskatchewan Alberta the Fort Site produces ammonium sulphate fertilizer as a byproduct DID YOU KNOW? SHERRITT’S FORT SASKATCHEWAN SITE which is then sold to Canadian farmers A saleable byproduct means less waste WAS THE FIRST FERTILIZER from the refining process and more food on the table for people around the world PRODUCER IN ALBERTA This number fluctuates from year to year depending on nickel and cobalt production 2019 SUSTAINABILITY REPORT 7 SHERRITT IS THE LARGEST INDEPENDENT POWER PRODUCER IN CUBA Sherritt’s Cuban power business operates through a onethird interest in Energas SA The remaining twothirds interest is held equally by two Cuban agencies Union CubaPetroleo CUPET and Unión Eléctrica UNE Energas’ electrical generating capacity is MW The processing of raw natural gas produces clean natural gas used to generate IN THE EVENT OF A NATURAL electricity as well as byproducts such as condensate and liquefied petroleum gas DISASTER SUCH AS A HURRICANE SHERRITT HAS The Energas facilities which comprise the two combined cycle plants at Varadero SUPPORTED THE COUNTRY’S three gas turbines and one steam turbine and Boca de Jaruco five gas turbines RECOVERY BY BRINGING THE and one steam turbine produce electricity using steam generated from the waste POWER SUPPLY BACK ONLINE SAFELY AND AS SOON AS heat captured from the gas turbines POSSIBLE In the combined cycle unit at the Varadero facility was granted Clean Development Mechanism status under the provisions of the Kyoto Protocol by the United Nations Framework Convention on Climate Change We have since built another combined cycle unit at a different facility in Cuba that is eligible for this designation Not only does this investment provide the Cuban grid with much needed energy for the Cuban people but it has also generated over carbon credits and reduced the carbon footprint of energy generation within Cuba 2019 SUSTAINABILITY REPORT 8 COMMERCIAL OPERATIONS WORLDWIDE HAVE USED SHERRITT TECHNOLOGIES SINCE DID YOU KNOW? Sherritt is one of the best known companies for technological innovation in the mining industry and certainly has one of the longest histories in Canada In the s we began to experiment with new techniques for nickelcopper ore processing at the University of British Columbia This effort ultimately led to the commercialization of our hydrometallurgical processes for recovery of metals IN BUILDING ON OUR UNIQUE EXPERTISE IN METALS including
Load more

Recommended publications
  • NI 43-101 TECHNICAL REPORT Ambatovy Nickel Project, Madagascar
    NI 43-101 TECHNICAL REPORT Ambatovy Nickel Project, Madagascar CSA Global Report Nº R501.2018 Effective Date: 30 June 2018 www.csaglobal.com Qualified Persons Michael Elias, FAusIMM (CSA Global) Stewart Lewis, MAusIMM(CP) (IMC Mining) Paul O’Callaghan, FAusIMM (CSA Global) Adrian Martinez, P.Geo (CSA Global) Glen Smith, P. Eng. (Sherritt International Corporation) SHERRITT INTERNATIONAL CORPORATION AMBATOVY PROJECT – NI 43-101 TECHNICAL REPORT Report prepared for Client Name Sherritt International Corporation Project Name/Job Code STO.MSA.01v2 Contact Name Glen Smith Contact Title Consulting Engineer - Technologies Office Address 8301-113 Street, Fort Saskatchewan, Alberta T8L 4K7 Report issued by CSA Global Office Perth Division Mining Street Address Level 2, 3 Ord Street, West Perth, WA 6005 Postal Address PO Box 141, West Perth, WA 6872 Phone +61 8 9355 1677 Email [email protected] Report information File name CSA Global Report R501.2018 NI 43-101 Technical Report - Ambatovy Nickel Project Effective Date 30 June 2018 Report Signature Date 10 January 2019 Report Status Final Author and QP Signatures Michael Elias [“Signed”] Coordinating BSc (Hons), FAusIMM(CP) Signature: {Michael Elias} Author CSA Global Pty Ltd at Perth, Australia Stewart Lewis [“Signed”] Coordinating BEng (Mining), MBA, Signature: {Stewart Lewis} Author MAusIMM(CP) at Brisbane, Australia IMC Mining Pty Ld Paul O’Callaghan [“Signed”] Coordinating BEng (Mining), FAusIMM Signature: {Paul O’Callaghan} Author CSA Global Pty Ltd at Perth, Australia Dr. Adrian Martinez Vargas [“Signed & Sealed”] Coordinating PhD., P.Geo. (BC, ON) Signature: {Adrian Martinez Vargas} Author CSA Global Pty Ltd at Ottawa, Ontario, Canada Glen Smith [“Signed & Sealed”] Coordinating P.
    [Show full text]
  • Sherritt International Corporation Is Committed to Providing a Safe And
    2016 SUSTAINABILITY REPORT Sherritt International Corporation is committed to providing a safe and rewarding workplace, operating ethically, demonstrating environmental responsibility, engaging stakeholders and benefitting communities. We will meet or exceed the standards where we operate and continuously improve performance. The company is celebrating its 90th anniversary in 2017. TABLE OF CONTENTS CEO MESSAGE 3 ENGAGING STAKEHOLDERS AND BENEFITTING COMMUNITIES 78 OUR APPROACH 5 Stakeholder Engagement 79 Our Commitment to Sustainability 6 Community Development 88 Governance 7 Sustainability Framework 8 PERFORMANCE 98 Materiality 11 2016 Targets 99 Sustainable Development Goals 14 GRI Index 100 UNGC 112 PROVIDING A SAFE AND REWARDING WORKPLACE 25 OECD 118 Health and Safety 26 GRI Index Data Tables 123 Public Safety 33 Site Security 40 ABOUT SHERRITT 135 Employee Relations 43 Map/Description 136 Divisions/Products 137 OPERATING ETHICALLY 47 2016 Key Indicators 138 Economic Performance 48 Our Supply Chain 139 Business Conduct 49 Human Rights 53 ABOUT THIS REPORT 140 DEMONSTRATING ENVIRONMENTAL RESPONSIBILITY 56 Tailings Management 57 Biodiversity and Land 59 Water 67 Energy and Climate Change 70 Environmental Liabilities, Closure and Reclamation 76 SHERRITT 2016 SUSTAINABILITY REPORT 2 “Our Purpose – to be a low-cost nickel producer that creates sustainable prosperity for our employees, investors and communities – guides all of our actions. Our focus for the year is to carry out our Strategic Priorities, which will strengthen our footing in this challenging market and position us well to create long-term value for all of our stakeholders.” – David Pathe, President and Chief Executive Officer CEO MESSAGE This year marks an important milestone for Sherritt: 90 years in business, making us one of the oldest Canadian natural resource developers operating today.
    [Show full text]
  • Sherritt International Corporation
    SHERRITT INTERNATIONAL CORPORATION 2011 Summary Sustainability Report ABOUT SHERRITT INTERNATIONAL CORPORATION Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, Indonesia and Madagascar. The Corporation is the largest coal producer in Canada and is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”. About This Report In this, our fourth report, we provide a snapshot of how we are managing a range of sustainability issues such as health and safety, training, biodiversity and reclamation, stakeholder engagement, and community investment – and discuss why they are important to our business and relevant to our stakeholders. We feature case studies and examples from our divisions – Metals, Coal, Oil and Gas, and Power – and Technologies, to demonstrate the progress Sherritt made in 2011 toward improving our performance and achieving our sustainability vision. Unlike the 2010 report, which provided significant detail on a wide range of topics, the 2011 edition is a summary of our efforts for the year. A comprehensive review of our performance data is available on www.sherritt.com. This change in format reflects our intent to move away from producing detailed linear reports on paper, and toward developing a dynamic web-based reporting platform. In addition, we have recast this year’s edition as a “sustainability” report – rather than a “corporate social responsibility” report – to reflect environmental and technical considerations, and the long-term focus of our efforts.
    [Show full text]
  • R117.2019 STOMSA01 Sherritt Moa 43-101 Technical Report Effective Date 31 December 2018 Report Signature Date 6 June 2019 Report Status Final
    kelIts NI 43-101 TECHNICAL REPORT Moa Nickel Project, Cuba CSA Global Report Nº R117.2019 Effective Date: 31 December 2018 Signature Date: 6 June 2019 www.csaglobal.com Qualified Persons Michael Elias , FAusIMM (CSA Global) Paul O’Callaghan , FAusIMM (CSA Global) Adrian Martinez , P.Geo (CSA Global) Kelvin Buban , P. Eng. (Sherritt International Corporation) SHERRITT INTERNATIONAL CORPORATION MOA NICKEL PROJECT – NI 43-101 TECHNICAL REPORT Report prepared for Client Name Sherritt International Corporation Project Name/Job Code STO.MSA.01v1 Contact Name Kelvin Buban Contact Title Director of Operations Support Office Address 8301-113 Street, Fort Saskatchewan, Alberta T8L 4K7 Report issued by CSA Global Pty Ltd Level 2, 3 Ord Street West Perth, WA 6005 AUSTRALIA PO Box 141 CSA Global Office West Perth WA 6872 AUSTRALIA T +61 8 9355 1677 F +61 8 9355 1977 E [email protected] Division Mining Report information Filename R117.2019 STOMSA01 Sherritt Moa 43-101 Technical Report Effective Date 31 December 2018 Report Signature Date 6 June 2019 Report Status Final Author and Qualified Person Signatures Coordinating Michael Elias [“Signed”] Author and BSc (Hons), MAIG, FAusIMM Signature: {Michael Elias} Qualified Person CSA Global Pty Ltd at Perth, Australia Paul O’Callaghan [“Signed”] Co-author and BEng (Mining), FAusIMM Signature: {Paul O’Callaghan} Qualified Person CSA Global Pty Ltd at Perth, Australia Dr. Adrian Martinez Vargas [“Signed & Sealed”] Co-author and PhD., P.Geo. (BC, ON) Signature: {Adrian Martinez Vargas} Qualified Person CSA Global Pty Ltd at Ottawa, Ontario, Canada Kelvin Buban [“Signed & Sealed”] Co-author and BSc. Chem. Eng., P.Eng.
    [Show full text]
  • City of Edmonton City of Fort Saskatchewan Lamont
    Fort Industrial Estates Petrogas Praxair Inc. (OPERATIONAL) (OPERATIONAL) EnergyCorp www.praxair.com Praxair, Inc. is the largest industrial This light/medium industrial park (OPERATIONAL) services the Heartland heavy industrial gases company in North and South area as well as the agricultural www.petrogascorp.com America, and one of the largest community. worldwide. The company produces, Operated as a division of Petrogas sells and distributes atmospheric, It has direct access to Highway 15/21, Energy Corp., the Petrogas Energy process and specialty gases, and high- adjacent to the high load corridor Services Ltd. - Fort Saskatchewan performance surface coatings. Praxair to Fort McMurray and is serviced by terminal provides the service of Canada Inc. has proudly served Alberta’s municipal water and sewer, natural gas receiving, storing and loading products Industrial Heartland for over 30 years. end customer and improved tool and electricity. They also have building onto trucks and rail cars for the Taurus Industrial Aux Sable Canada Ltd. Dow Chemical Canada Ferus Inc. (OPERATIONAL) The Fort Saskatchewan personnel properties. The facility maintains ISO space for lease. sale and distribution into Alberta’s 9001 and 14001 registration and is CITY OF EDMONTON CITY OF FORT www.Ferus.ca petrochemical, refining and crude oil oversees the Heartland hydrogen Business Park Heartland Offgas Plant ULC (OPERATIONAL) pipeline network (spanning over 60 km), (OPERATIONAL) recognized by Alberta Environment as www.edmonton.ca industry. EnviroChampions. www.dowcanada.com The facility captures gaseous CO2, a Keyera (KFS) (OPERATIONAL) two large air separation units, carbon www.taurusprojects.ca SASKATCHEWAN (“HOP”) (OPERATIONAL) process by-product of Sherritt’s nearby www.keyera.com www.forstsask.ca dioxide purification facilities, and Horsehills Industrial Walton Development www.auxsable.com Serving North America, Latin America ammonia process, liquefies it and stores Plains Midstream oxygen and nitrogen pipelines.
    [Show full text]
  • Quick Download 2018 Report
    2018 SUSTAINABILITY REPORT Supplying a Sustainable Future Sherritt International Corporation is committed to providing a safe and rewarding workplace, operating ethically, demonstrating environmental responsibility, engaging stakeholders and benefitting communities. We will meet or exceed the standards where we operate and continuously improve performance. SUPPLYING A SUSTAINABLE FUTURE Sherritt’s products have a role to play in global plans for a sustainable future for all So where do Sherritt’s products end up? What is unique about them? What are the opportunities? Scroll down the page to learn more Sherritt’s products have important roles to play in a sustainable future Each contributes to the development of goods and services which can provide a safe healthy secure existence for all Our products are used widely in thousands of applications in the global marketplace More and more in their efforts to ensure a responsible supply chain customers want to know how we conduct our business Sherritt expects this interest to grow and is prepared for the evolution occurring in supply chain relationships At Sherritt we are committed to ensuring that we operate sustainably and that we are not creating undue environmental social and economic harm in the areas in which we operate How is Sherritt responding to the challenge sustainability presents when mining and refining nonrenewable resources? ENSURING THE SAFETY AND HEALTH OF OUR EMPLOYEES AND COMMUNITIES FOSTERING A DIVERSE AND INCLUSIVE WORKFORCE INTERACTING WITH A WIDE RANGE OF STAKEHOLDERS RESPECTING
    [Show full text]
  • 2011 Annual Information Form 2012 Annual Information Form
    AIF 2011 Annual Information Form 2012 Annual Information Form Sherritt International Corporation Sherritt International Corporation For the year ended December 31, 2011 For the year ended December 31, 2012 Dated as of March 27, 2012 Dated as of March 26, 2013 TABLE OF CONTENTS Introduction i Forward-Looking Statements ii Scientific and Technical Information iii Glossary of Terms iii 1. Corporate Structure 1 1.1 Name and Incorporation 1 1.2 Intercorporate Relationships 1 2. General Development of the Business 2 2.1 Three-Year History 2 3. Narrative Description of the Business 5 3.1 Metals 5 3.2 Coal 29 3.3 Oil and Gas 59 3.4 Power 76 3.5 Sherritt Technologies 80 3.6 Sulawesi Project 80 3.7 Environment, Health and Safety, Climate Change and Sustainability 81 3.8 Employees 87 3.9 Risk Factors 87 4. Dividends 102 5. Capital Structure 102 6. Market for Securities 104 7. Directors and Officers 104 8. Transfer Agent and Registrar 108 9. Material Contracts 108 10. Interests of Experts 109 11. Additional Information 109 11.1 Additional Documents 109 11.2 Audit Committee 109 Appendix I. Mandate of the Audit Committee (June 2012) 111 14MAR200900114167 Sherritt International Corporation Annual Information Form For the year ended December 31, 2012 Dated as of March 26, 2013 Introduction This annual information form (‘‘Annual Information Form’’ or ‘‘AIF’’) contains important information that will help you make an informed decision about investing in Sherritt International Corporation. It describes Sherritt International Corporation, its businesses and activities as well as risks and other factors that affect its business.
    [Show full text]
  • FINANCIAL RESULTS Sherritt International Corporation Sherritt’S Strongest Balance Sheet in More Than a Decade
    2020 FINANCIAL RESULTS Sherritt International Corporation Sherritt’s strongest balance sheet in more than a decade 2020 was a difficult year for the mining industry, with volatile commodity prices, the global pandemic and, for Sherritt, a tumultuous Cuba-U.S. relationship. Through it all, Sherritt remained steadfastly focused on protecting employees, suppliers and other stakeholders from COVID-19, maintaining collections on Cuban energy overdue receivables, and preserving liquidity. 2020 was a transformative year for Sherritt, foremost, it completed its balance sheet initiative which reduced its outstanding debt by approximately $301 million, extended the maturities of its note obligations to 2026 and 2029, reduced annual interest payments by more than $15 million, and terminated its debt obligations relating to the Ambatovy Joint Venture and its cross-default risk of the Ambatovy shareholder agreement, all without any dilution of its common shares. Pre-transaction1 Post-transaction $145M $358M $221M $170M $198M $75M 0 0 2020 Nov. 2021 2022 Aug. 2023 2024 Nov. 2025 Nov. 2026 2029 Existing unsecured debentures Ambatovy Partner loans New second lien notes Junior Note (1) Face value of public debentures and principal amount and accrued interest of Ambatovy partner loans ($ millions) / Excluding the credit facility 2020 Operational Highlights Sherritt’s focus is nickel and cobalt, but we also have a long history of oil and power production in Cuba. Our continued focus on operational excellence and employee safety meant that COVID-19 had a limited impact on our production activities at each of our operations primarily as a result of a quick and sustained focus on additional health and safety measures implemented starting in March 2020 as the virus was spreading around the world.
    [Show full text]
  • Sherritt International Corporation (The "Corporation" Or "Sherritt") 22 Adelaide Street West, Suite 4220 Bay Adelaide Centre – East Tower Toronto, Ontario M5H 4E3
    MATERIAL CHANGE REPORT 1. Name and Address of Corporation: Sherritt International Corporation (the "Corporation" or "Sherritt") 22 Adelaide Street West, Suite 4220 Bay Adelaide Centre – East Tower Toronto, Ontario M5H 4E3 2. Date of Material Change: July 17, 2020 3. News Release: On July 17, 2020, a news release was issued and disseminated through the facilities of a recognized newswire service and would have been received by the securities commissions where Sherritt is a reporting issuer in the normal course of its dissemination. A copy of the news release is attached hereto as Schedule A. 4. Summary of Material Change: On July 17, 2020, Sherritt announced that it amended certain terms of its previously announced transaction to improve its capital structure described in the Corporation’s management information circular dated March 6, 2020 (the “Information Circular”), together with certain amendments to the transaction described in Sherritt’s news releases issued on June 10, 2020 and June 29, 2020 (collectively, the “Transaction”). The amended terms announced on July 17, 2020 (the “Amended CFA Terms”) are limited to matters relating to the Corporation’s Ambatovy Joint Venture partners (the “CFA Lenders”) and provide that all of Sherritt’s obligations under its Ambatovy Joint Venture partner loans outstanding pursuant to subordinated carry finance agreements with the CFA Lenders (the “CFA Loans”) will be exchanged for Sherritt’s interest in the Ambatovy Joint Venture (including its equity ownership in, and the subordinated loan obligations owed from, the Ambatovy Joint Venture) (collectively, the “Ambatovy Interests”), rather than providing each CFA Lender with the option to elect to exchange its CFA Loans for either (i) its CFA Lender’s pro rata share of the Ambatovy Interests or (ii) an amended CFA Loan with no recourse against Sherritt (as further described in the Information Circular).
    [Show full text]
  • Corporate Social Responsibility 2010 At-A-Glance
    SHErritt’S CSR VISION ABOUT SHERRITT Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects Sherritt maintains a long-term commitment to and operations in Canada, Cuba, Indonesia and Madagascar. The Corporation is the largest coal responsible practice by integrating environmental, producer in Canada and is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides safety and community considerations into decision- metallurgical services to mining and refining operations worldwide. The Corporation’s common making and building lasting relationships with shares are listed on the Toronto Stock Exchange under the symbol “S”. our workforce, communities and governments. We take a pragmatic and localized approach to sharing the benefits of our business, while minimizing the adverse impacts of development. SHerritt’s Commitment EMPLOYEES: To consider the health, safety, well-being and professional development of our workforce in all decision making; COMMUNITIES: To ensure local communities near our operations and offices benefit socially and economically from our business; GOVERNMENTS: To build and maintain meaningful and productive relationships with local, regional and national governments in jurisdictions where we operate; THE ENVIRONMENT: To practice responsible and forward-looking environmental stewardship at all operations; HIGHLIGHTS SHAREHOLDERS: To be a low-cost operator across all segments of our business and 2010 2009 to grow through increased productivity and profitability; Revenue ($ millions) 1,771.1 1,474.9 PARTNERS: To maintain an open relationship with all our partners and to share with EBITDA ($ millions) 632.0 495.4 them our success, expertise and experience; and Net earnings ($ millions) 214.0 85.7 CUSTOMERS: To provide the highest quality of products and the best services possible.
    [Show full text]
  • Sherritt International Corporation 2010 Corporate Social Responsibility Report About Sherritt
    Sherritt International Corporation 2010 CORPORATE SOCIAL RESPONSIBILITY REPORT ABOUT SHERRITT Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, Indonesia and Madagascar. The Corporation is the largest coal producer in Canada and is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licences its proprietary technologies and provides metallurgical services to mining and refining operations throughout the world. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”. Products from Sherritt’s metal refinery are sold in international metal markets. The Corporation’s coal is sold directly to power plants in Canada for electrical generation and into international markets. Electricity and oil are produced in Cuba and sold locally. Other fossil fuel products are sold into local and international markets. HIGHLIGHTS 2010 2009 Revenue ($ millions) 1,771.1 1,474.9 EBITDA ($ millions) 632.0 495.4 Net earnings ($ millions) 214.0 85.7 Nickel produced (tonnes) 33,972 33,599 Cobalt produced (tonnes) 3,706 3,721 Coal produced (millions of tonnes) 38.6 39.3 Net oil production (boepd) 11,956 13,214 Electricity generation (GWh) 2,067 2,167 NOTE: All value figures are in Canadian dollars unless otherwise noted. All volume measurements represent 100% of operations. No adjustment is made to reflect joint venture ownerships. CONTENTS Sherritt’S CSR VISION ____________________1
    [Show full text]
  • The Mining Association of Canada (Mac)
    THE MINING . 2019 ANNUAL REPORT 1 THE MINING THE MINING ASSOCIATION OF CANADA (MAC) The Mining Association of Canada (MAC) is the national organization for the Canadian mining industry. Its members account for the majority of Canada’s production of base and precious metals, uranium, diamonds, metallurgical coal and mined oil sands, and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication. Representing members committed to sustainability, MAC’s Towards Sustainable Mining® (TSM®) initiative is an award winning and world-leading standard that fosters continuous performance improvement in environmental and social mining practices. MAC promotes the interests of the industry nationally and internationally, works with governments on policies affecting minerals, informs the public, and promotes collaboration to solve common issues and foster progress. MAC works closely with provincial and territorial mining associations and other industries, as well as with environmental and community groups across Canada. 2019 ANNUAL REPORT 2 THE MINING MESSAGE FROM THE CHAIR AND THE PRESIDENT AND CEO Gordon Stothart, Chair of the Board of Directors, and Pierre Gratton, President and CEO Over the course of 2019, there were numerous issues that required strategic attention from the Mining Association of Canada (MAC) and its members to ensure that support for the country’s minerals and metals industry were prioritized. Mining continues to be one of the only sectors in the Canadian economy where we can boast that we are a global leader. Around the world, countries want Canadian investment. They want us for how we go about our business, how we work with communities and raise standards.
    [Show full text]