BusinessThe company says it stopped the dissolution plan after consultations with its advisers, stakeholders and relevant governmental authorities, reversing a decision it announced last week as the U.S. expands sanctions on the country.Company stopped dissolution plan after consulting with advisers, stakeholders and government authoritiesThe Canadian Press · Posted: May 19, 2026 3:51 PM EDT | Last Updated: 2 hours agoListen to this articleEstimated 2 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.A gas station that has run out of fuel is seen near the U.S embassy, in the background, in Havana, Cuba, on Saturday, Feb. 7. Mining company Sherritt International said it would not proceed with plans to dissolve its Cuban interests, reversing a decision made earlier in April. (Ramon Espinosa/The Associated Press)Sherritt International Corp. says it is no longer pursuing a plan to dissolve its Cuban joint venture, reversing a decision it announced last week as the U.S. expands sanctions on the country.The Trump administration has laid siege to Cuba since January, enforcing a de facto ​fuel blockade, issuing threats of military action ​and ramping up sanctions that have forced foreign businesses, including Sherritt, to flee.The Canadian mining company says it has been presented on a preliminary basis with "a potential value preserving opportunity" that it is evaluating.Toronto-based Sherritt pulls back from mining joint venture in Cuba amid expansion of U.S. sanctionsSherritt and the General Nickel Co. S.A. of Cuba each hold a 50 per cent interest in the Moa joint venture, which mines nickel in Cuba that is shipped to Canada where it is refined. The venture is a key source of Cuba's ⁠foreign exchange. The company says it stopped the dissolution plan after consultations with its advisers, stakeholders and relevant governmental authorities.The company is maintaining its suspension of direct participation in joint venture activities in Cuba after the U.S. ramped up pressure on the Caribbean country.Sherritt says it still faces a number of acute operational, financial and legal difficulties including the ability to comply with its debt covenants as it works to address the expanded sanctions.With files from Reuters