[Overseas Nickel Enterprise Quarterly Report] Sheritt: Nickel production in the first quarter of 2022 is 3,875 tons

On May 12, 2022, Sheritt released its first quarter report, which showed that Moa finished nickel production in the first quarter was 3,875 tons, down 7% year-on-year. Nickel sales were 3,758 tonnes, down 10% year-on-year. Nickel earnings were $31.2 million.

The year-over-year decline in finished nickel was primarily due to the disruption of rail transport from Halifax to the Fort Saskatchewan smelter and delayed receipt of mixed sulfides from Moa to the smelter, resulting in lower supplies.

Production in the second quarter will be impacted by the annual maintenance shutdown plan at the Fort Saskatchewan smelter. The maintenance is done every six years and includes all smelters and plants, with a smaller outage this year compared to the previous year. The 2022 shutdown is expected to last up to seven days, the same time as previous years.

Nickel production guidance for 2022 is unchanged at 32,000-34,000 tonnes.

The specific production and sales volume and production guidance are shown in the following table:



Post time: May-12-2022
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