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Sherritt targeting up to 86,000 tonnes of nickel production in FY'17

Sherritt International Corp. said Jan. 31 that its 50%-owned Moa Bay and 40%-owned Ambatovy joint ventures produced a total of 75,033 tonnes of nickel and 6,967 tonnes of cobalt in 2016, on a 100% basis.

This compares with 33,705 tonnes of nickel and 3,733 tonnes of cobalt produced at Moa, and 47,271 tonnes of nickel and 3,464 tonnes of cobalt produced at Ambatovy in 2015.

The Moa mine in Cuba produced 32,928 tonnes of nickel, meeting the revised full-year guidance of between 32,500 and 33,000 tonnes, while cobalt output totaled 3,694 tonnes in the period.

Annual output at the Ambatovy JV in Madagascar totaled 42,105 tonnes of nickel and 3,273 tonnes of cobalt, hitting the upper end of the full-year production forecast of between 40,000 and 42,000 tonnes of nickel and 2,900 to 3,300 tonnes of cobalt.

Sherritt expects its Ambatovy and Moa joint ventures to produce between 81,000 and 86,000 tonnes of nickel in 2017, while cobalt production is expected to range between 7,300 and 7,900 tonnes, on a 100% basis.

Moa is expected to produce between 33,000 and 34,000 tonnes of nickel and 3,500 and 3,800 tonnes of cobalt this year. Meanwhile, output at Ambatovy is forecast to be 48,000 to 52,000 tonnes of nickel and 3,800 to 4,100 tonnes of cobalt in 2017.