NICKEL/COBALT
Canadian diversified miner Sherritt International has signed a definitive agreement to restructure the Ambatovy Joint Venture (JV), which will see Sherritt transfer its 28% stake in return to eliminate debt from its balance sheet. Under the terms of the JV restructuring, which was first revealed in May, the Toronto-based company will retain a 12% stake in the Madagascar nickel/cobalt mine, and cancel C$1.3-billion of accrued partner loans from its balance sheet.
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