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Nickel industry shuttered as powerful hurricane threatens Cuba

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Nickel industry shuttered as powerful hurricane threatens Cuba

Two Cuban nickel processing plants were temporarily shuttered to avoid serious damage to the operations as a powerful hurricane threatens the eastern part of the Caribbean island, Reuters reported Oct. 3, citing the state-run media.

State-owned nickel miner Cubaniquel owns one plant and is a joint-venture partner with Sherritt International Corp. in the other facility.

"The principal objective is to avoid serious damage and later carry out a smooth reopening of the industry," the company said.

According to the Mining and Energy Ministry, Cuba is one of the leading global nickel producers and supplies 10% of the world's cobalt.