Sherritt reports mixed results.
Sherritt International, the largest single foreign investor in Cuba, reported steep losses and said it would meet with bondholders to try to renegotiate its debts in a bid to avoid default.
The company has been hit by low nickel and coal prices, though its Cuba oil and gas properties were
For the year, Sherritt has profits of 34 cents per share, but the fourth quarter saw a loss of 15 cents per share due to writedowns in Spain and Australia. Cuban nickel and cobalt production at the Moa mine hit a record 32,360 tons last year, up from over 29,000 the year before.
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