Sherritt in talks to hand control of Cuba mining business to ex-Trump adviser

Published: May 21, 2026 07:00

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Sherritt has signed a non-binding term sheet with US-based investment firm Gillon Capital, under which the latter could acquire a controlling stake of approximately 55% in the company through a private placement and warrants. The firm is linked to a former adviser to US President Donald Trump. Meanwhile, Sherritt stated that it has engaged with the US Department of State, and the proposed transaction is not considered to be in violation of US law. Sherritt has long been involved in nickel and cobalt mining and refining operations in Cuba, relying heavily on local state partners. Following the latest round of US sanctions, the company had previously considered exiting its Cuban operations, but has since reversed course and is now exploring options to preserve value.

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