DOCSLIB.ORG

Sherritt International Corporation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sherritt International Corporation SHERRITT INTERNATIONAL CORPORATION 2011 Summary Sustainability Report – Data & Tables THE DATA AND TABLES COMPENDIUM TO THE 2011 SUMMARY SUSTAINABILITY REPORT PROVIDES UPDATES TO KEY PERFORMANCE INDICATORS AND INFORMATION FOUND IN REPORTS FROM PREVIOUS YEARS. THE DATA AND TABLES FOLLOW THE SAME THEMATIC SEQUENCE OF THE PREVIOUS REPORTS: ENVIRONMENT, COMMUNITY AND WORKFORCE. ALL DATA ARE ON A CALENDAR YEAR BASIS AND ALL REFERENCES TO CURRENCY ARE IN CANADIAN DOLLARS UNLESS OTHERWISE NOTED. ADDITIONAL INFORMATION FROM PREVIOUS REPORTS (NOT ORIGINALLY INCLUDED IN THE APPENDIX) HAS ALSO BEEN ADDED BELOW TO ENSURE THAT IT IS UPDATED FOR 2011. Corporate Our financial and operating performance: 2011 2010 Revenue ($ millions) 1,978.3 1,670.6 Net Earnings ($ millions) 197.3 144.8 Nickel Produced (tonnes) 34,572 33,972 Cobalt Produced (tonnes) 3,853 3,706 Coal Produced (millions of tonnes) 36.6 38.6 Net Working Interest Oil and Gas Produced (BOEPD(1)) 12,057 11,956 Electricity Sold (GWh(1)) 1,853 2,067 NOTE: All volume figures represent 100% of operations. No adjustments have been made to reflect joint venture ownerships. (1) BOEPD is “barrels of oil equivalent per day” and GWh is “gigawatt hours”. TABLE OF CONTENTS Corporate (above) | Environment p1 | Community p6 | Workforce p8 Environment Sherritt is committed to practicing responsible and principled environmental stewardship at all of its operations. E1. ENVIRONMENT GOAL MATRIX N = Not Achieved; Y = Achieved; P = Partially Achieved Goal Progress Result Report on environmental events as required Y All of the Divisions continue to follow the by operating permits and licenses requirements for their operations to remain in compliance. Keep annual reclamation levels in Canada Y Sherritt’s Moa Nickel Joint Venture (Moa) continues and Cuba consistent with previous year’s to work with the Cuban authorities to ensure performance to reduce reclamation backlogs. that reclamation is at appropriate levels. Both Long-term goal is to achieve a balance leveled and completed reclamation at Coal in between reclamation and disturbance. 2011 was above the trend from previous years. Minimize number of Species of Concern (SOC) Y SOC in the mine footprint have been progressively International Corporation Sherritt at the Ambatovy Joint Venture (Ambatovy) reduced from 173 to eight at the end of 2010 and through continued off-site surveys five at the end of 2011. for viable populations Receive Certified Emission Reduction P Request for issuance was made before the credits (CERs) for each registered end of 2011. Issuance is anticipated in 2012. Clean Development Mechanism (CDM) project on a regular basis Comply with local regulations for Y Both Metals and Coal continue to comply with greenhouse gas (GHG) emissions | | SSR DATA 11 GHG regulations in Canada by contributing to the Climate Change and Emissions Management Fund as established by Alberta’s provincial government. 1 E2. ENVIRONMENT REPORTS(1) Key Indicator (number of reports filed in Canada for Canadian Operations) 2011 Fort Saskatchewan(2) Air 2 Land 0 Water 1 Coal(3) Air 0 Land 4 Water 5 (1) This indicator shows the number of times reports were required due to exceedance of our operating approvals. (2) Fort Saskatchewan had two stack-limit exceedances during separate tests for particulate matter and ammonia at the ammonium sulphate granulation unit. A rigorous research program conducted internally successfully determined the contributing factors, resulting in changes to equipment and operating procedures. Subsequent testing demonstrated compliance with all emission limits. The water event report was related to a brief storm pond discharge from the site due to high regional precipitation in July 2011. Additional installed pumping capacity has allowed excess precipitation and surface runoff to be moved between storage ponds on site to address low probability, high precipitation events. (3) The following details describe events at Coal: Land – Two reports were related to spills of deleterious substances, which were contained and the materials recovered for disposal at regulated facilities; one report was related to hazardous waste storage and another was related to an operating approval contravention relating to the salvage of native plants. Water – Events mostly due to high precipitation in the prairies resulting in higher levels of suspended solids in water discharged from mine sites. Sherritt International Corporation Sherritt E3. RECLAMATION AT THE MOA MINE (ha) 2011 2010 2009 2008 2007 Affected 46 46 48 45 36 Reclaimed 43 74 85 82 68 E4. RECLAMATION AT COAL’S MINES (ha) 2011 2010 2009 2008 2007 | SSR DATA 11 | | SSR DATA 11 Leveled(1) 1,143 912 643 928 1,064 Completed(2) 992 501 694 688 682 (1) Leveled: the return to contour specified as the provincial standard, as outlined in mining licenses. (2) Completed: leveled, contoured and topsoiled. 2 E5. SHERRITT COAL’S TOTAL RECLAMATION ACHIEVEMENT(1) Surface disturbed to Dec. 31, 2011 Approximate total reclaimed(2) Mine Ha Ha Percent Bienfait 2,551 1,934 75.8% Boundary Dam 8,733 7,418 85.0% Coal Valley 5,574 2,915 52.3% Obed Mountain 1,891 613 32.4% Paintearth(3) 3,339 2,182 65.2% Poplar River 5,647 4,813 85.2% Sheerness 4,412 3,485 79.0% Gregg River(4) 1,300 1,300 100.0% Total 33,447 24,660 73.7% (1) Cumulative life of mine total. (2) Completed: leveled, contoured and topsoiled. (3) Data revised from previous reports. (4) The Gregg River mine ceased operation in 2000. Reclamation was completed in 2011. E6. AMBATOVY’S NET IMPACT OF MINING ACTIVITIES IN FORESTED AREAS International Corporation Sherritt Land to be used Land to be Land to be Forest/Land Areas (ha) reclaimed (ha) conserved (ha) Mine Footprint 1,800 1,800 0 Slurry Pipeline 600 600 0 Roads/Infrastructure 100 0 0 On-Site Mine Conservation Forest(1) 0 0 3,644 Ankerana Offset (Business and Biodiversity Offsets Programme area) 0 0 6,800 Subtotals 2,500 2,400 10,444 Net Gain 10,344 | | SSR DATA 11 (1) Ambatovy has redefined the mine conservation forest to include only land within Ambatovy’s land lease area. This caused a reduction of 1,556 ha that is outside of the lease area but was being conserved by Ambatovy. This land is rightly under the control/protection of the Analamay-Mantadia Forest Corridor (AMFC) administration. A 300 ha zone identified in previous reporting as on-site offset is now included in the mine conservation forest total. The AMFC is a forest area beside the Ambatovy mining lease area, currently including 8,319 ha of land (taking into account the 1,556 ha transferred). Ambatovy and a major international non-governmental organization were instrumental (through funding and services) in initiating the process to get protected status and forest management for this area but its administration will remain independent of Ambatovy. Ambatovy continues to work with the administration of the AMFC to 3 ensure that there is a continuous protected forest area linking mine conservation forests and other conservation zones. The result is one of the largest continuous forest areas in Madagascar. By working towards protected status for this land, Ambatovy is effectively increasing the total net gain in conserved land by an additional 8,319 ha, to 18,663 ha. E7. AMBATOVY’S INVENTORY OF SPECIES PROTECTED Species(1) 2011 2010 2009 2008 Lemurs Number of species inventoried to date(2) 16 16 13 16 Number of lemurs tagged with microchip identification(3) 52 0 40 216 Number of lemurs fitted with radio collars(4) 27 0 45 66 Birds Number of species inventoried to date 117 115 109 86 Number of eggs recovered from clearing operations to date 100 77 49 36 Number of eggs recovered that hatched 91 73 48 35 Number of birds relocated from clearing operations to date 153 122 80 61 Amphibians and Reptiles Number of Mantella frog sites discovered to date(5) 18 12 4 5 Number of reptiles recovered from clearing operations(3) 2,593 2,828 1,873 874 Number of amphibians recovered from clearing operations(5) 2,096 1,047 617 142 Fish Number recovered for captive breeding program(3) 0 912 812 901 Sherritt International Corporation Sherritt Flora Number of orchid species protected in orchid park 82 82 80 40 Number of orchid plants transplanted to orchid park 6,944 3,393 930 730 (1) Cumulative unless otherwise noted. (2) Change in 2009 due to change in methodology and taxonomy. (3) Non-cumulative. (4) Non-cumulative. Includes both new captures (12 in 2011) and re-captures (15 in 2011) to change collars or replace batteries. (5) Change in 2009 due to change in methodology. | SSR DATA 11 | | SSR DATA 11 E8. GHG EMISSIONS BY OPERATION (tonnes of CO2e) 2011 2010 2009 2008 2007 Metals Fort Saskatchewan Industrial (1) 64,300 Process Emissions 71,617 70,078 78,641 51,976 4 Fort Saskatchewan Refinery(2) 238,895 223,433 239,280 213,634 210,874 Ambatovy Ambatovy (mine, slurry pipeline, plant and port) 375,000 n/a n/a n/a n/a Coal Bienfait mine, Activated Carbon and Char Plants 228,539 226,794 126,647 119,437 116,631 Boundary Dam mine 51,156 50,083 50,314 46,175 42,419 Coal Valley mine 180,390 198,072 195,640 174,439 153,086 Genesee mine (100% basis) 48,995 55,056 48,642 51,556 42,197 Obed Mountain mine 43,435 41,329 18,043 0 0 Paintearth mine 27,106 31,250 26,375 24,982 24,431 Poplar River mine 25,736 20,877 20,369 17,470 20,289 Sheerness mine 29,197 29,504 25,880 30,314 31,135 Total(3) 1,312,749 962,323 821,268 756,648 693,038 (1) Industrial process emissions are those associated with such things as chemical reactions, which are not required as part of annual reporting to Alberta regulators.
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]