Sherritt International Corporation

Sherritt International Corporation

November 05, 2014 16:34 ET

Sherritt Wins Prestigious Nedbank Capital Sustainable Business Award for Achievements in Biodiversity and Sustainability at the Ambatovy Joint Venture Nickel Operation

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2014) -


Sherritt International Corporation ("Sherritt") (TSX:S) is pleased to announce that it has won the Nedbank Capital Sustainable Business Award in the Resources and non-Renewable Energy category for its Ambatovy Joint Venture Biodiversity Program in Madagascar. The corporation and its partners are being recognized for excellence in sustainable business practices in Africa.

At an awards ceremony in Johannesburg, South Africa, on October 30, Sherritt was acknowledged for the landmark biodiversity work being carried out at its Ambatovy Joint Venture nickel operation in Madagascar, one of the most environmentally sensitive jurisdictions in the world. The Ambatovy Biodiversity Program reflects Sherritt's corporate-wide commitment to environmental responsibility, which is shared by the Ambatovy Joint Venture partners: Sumitomo Corporation, Korea Resources Corporation and SNC-Lavalin Group Inc. The program explicitly strives to achieve no net loss and no net harm to biodiversity in Madagascar. Program highlights include:

  • the rerouting of infrastructure to avoid critical habitats;
  • the monitoring, rescuing and relocating of impacted plants and wildlife; and
  • the implementation of a sustainable offset strategy to protect sensitive biodiversity.

"We are honoured to win this prestigious award, which became possible in working with numerous Malagasy and international organizations and scientists," said Sherritt President and CEO, David Pathe. "We knew early on that building Ambatovy would require a visionary approach to biodiversity management and that we could not do this alone. I would like to congratulate everyone at Ambatovy, especially the members of our environment department who work tirelessly to deliver this important program."

Sherritt is committed to providing a safe and rewarding workplace, operating ethically, demonstrating environmental responsibility, engaging stakeholders and benefitting communities. The Corporation will meet or exceed the standards in the areas it operates and will continuously improve performance.

About Ambatovy Joint Venture

The Ambatovy Joint Venture is a vertically integrated nickel and cobalt mining, processing, refining and marketing joint venture between subsidiaries of Sherritt (40 per cent ownership), Sumitomo (27.5 per cent), Korea Resources (27.5 per cent), and SNC-Lavalin (5 per cent). Sherritt is the operator of the facilities. Located in Madagascar, Ambatovy is the largest finished nickel and finished cobalt operation from lateritic ore in the world.

About Sherritt

Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, and Madagascar. The Corporation 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".

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