Sherritt International Spikes on Renewal of US-Cuba Relations

Sherritt International Spikes on Renewal of US-Cuba Relations

Shares of Canada's Sherritt International jumped over 25 percent on Wednesday after the United States announced plans to restore diplomatic relations with Cuba. The company produces oil and gas in Cuba, along with nickel and cobalt via its Moa joint venture.

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Company News

Poseidon Nickel Makes Progress Toward Lake Johnston Restart

Poseidon Nickel Ltd. (ASX:POS) announced that the interim bankable feasibility study for its Lake Johnston project has been completed. The project should be Poseidon's second to restart operations in 2015 (after Windarra).

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Market News

Nickel Drops from Six-week High on China News

Bloomberg reported that on Monday, nickel retreated from a six-week high due to an interest rate cut in China. Other industrial metals on the London Metal Exchange also sank.

Indonesia Reaffirms Ore Ban; Nickel Price Rises

Bloomberg reported that nickel rose the most in three weeks after Indonesia confirmed that its ban on the export of unprocessed ore will remain in place.

Aluminum Displaces Nickel as 2014′s Biggest Gainer

Bloomberg reported that on Tuesday nickel fell to its lowest price in a week, sinking as much as 1.6 percent as LME inventories increased to a record 385,860 metric tons. The previous day, the metal sunk by 3 percent.

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