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Or sign-in if you have an account.Sherritt's mining and processing facility in Moa, Cuba. Sherritt is one of Canada’s most exposed corporate investors in the island nation. Photo by Handout /Sherritt InternationalSherritt International Corp. reversed course on plans to unwind its Cuban business while flagging a “potential value preserving opportunity” as the nickel producer scrambles to respond to tougher U.S. sanctions.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Canadian company said that, after consultations with advisers and government officials, it won’t proceed with plans to dismantle its Cuban joint ventures including the breakup of its partnership with Cuba’s General Nickel Company SA, according to a Tuesday statement.Shares of the Toronto-based firm rose 9.1 per cent to 12 cents as of 10:04 a.m. in Toronto.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againSherritt is attempting to navigate the ramifications of United States President Donald Trump’s executive order earlier this month targeting non-U.S. individuals and entities doing business in Cuba, which has faced sweeping U.S. sanctions since the 1960s.Last week, Sherritt said it was considering steps to distance itself from its Cuban operations. Now, while maintaining the suspension of activities on the island, the company said it’s evaluating ways to mitigate the impact of the sanctions regime.To be sure, the company cautioned that any transaction or restructuring remains preliminary and may not be completed. The timing, structure and terms of any potential deal are still being assessed, Sherritt said, underscoring the uncertainty facing one of Canada’s most exposed corporate investors in Cuba.Sherritt operates nickel and cobalt mining and refining businesses tied closely to Cuban state partners and has long depended on the country for a significant portion of its production.The company warned that unresolved sanctions issues continue to pose “acute operational, financial and legal difficulties,” including risks related to compliance with debt covenants.—With assistance from Doug Alexander. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.