11:49 AM EDT, 10/21/2024 (MT Newswires) -- Sherritt International ( SHERF ) said on Monday that its Moa nickel mine in Cuba is operating at 50-60% capacity following a countrywide power outage in Cuba that began last Friday.

At this time, the miner said it does not anticipate any impact to its 2024 guidance.

Operations are expected to return to full capacity once power from the national grid is restored, which is expected this Monday.

"With the impact of the power outage minimized by the operation's backup power supply and prudent risk mitigation planning, there is not expected to be a material impact to mixed sulphides production," Sherritt ( SHERF ) said.

The company added that Hurricane Oscar, which weakened to a tropical storm, is not expected to materially impact the mine site aside from potential minor delays in timing for power from the national grid to be restored.

Sherritt's ( SHERF ) shares were last seen up $0.015 to $0.21 on the Toronto Stock Exchange.

Price: 0.21, Change: +0.02, Percent Change: +7.69