05:19 PM EDT, 10/28/2024 (MT Newswires) -- Sherritt International ( SHERF ) after trade Monday updated on its operations in Cuba following the nationwide power outage that began on October 18, reaffirming its 2024 guidance despite the power outage and damage from Hurricane Oscar.

The Moa nickel mine and all Energas S.A. facilities returned to full operating capacity on October 27.

Following the outage, the Moa nickel mine was operating at a reduced capacity of 50% to 60% with power sourced from the mine site's own generators. But despite this, there was not a material impact to mixed sulfides production. Meanwhile, the corporation's refinery in Alberta had strategically built-up feed inventory earlier in the year, ensuring reliable feed throughput for finished nickel production.

At Energas, the statement noted, operations had partially resumed by Saturday, October 19 although some temporary disruptions continued due to the complexities involving the power grid. It said Energas was instrumental in assisting to restore power to the Cuban national grid.

The Energas facilities, owned by Sherritt ( SHERF ) and two Cuban agencies, consist of two reliable combined cycle plants, generating electricity from domestically sourced natural gas and are among the lowest carbon emitting power sources in Cuba.

"Throughout the nationwide power outage, all environmental protection and safety activities at sites in Cuba continued uninterrupted, and there were no environmental incidents or injuries reported among personnel," Sherritt ( SHERF ) added.

Sherritt ( SHERF ) shares closed unchanged at $0.195 on the Toronto Stock Exchange, leaving them near a 52-week low.