Ambatovy Receives Operating Permit

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) today announced that the Ambatovy Joint Venture ("Ambatovy") in Madagascar has received a six-month authorization to commercially operate the processing plant in Toamasina, Madagascar ("Operating Permit"), during which time the Government of Madagascar intends to continue its review of the project. At the end of the six-month period, the authorization is to convert to a life-of-mine Operating Permit. Ambatovy did not curtail commissioning and ramp-up activities as a result of the delay in receipt of the Operating Permit.

About Sherritt

Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, Indonesia and Madagascar. The Corporation is the largest coal producer in Canada and is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation's common shares are listed on the Toronto Stock Exchange under the symbol "S".