Sherritt International Corp., a Canadian mining company with a long history in Cuba, announced plans to dissolve its nickel mining joint venture with Cuba's General Nickel Company SA due to recently imposed US sanctions. The sanctions, part of a broader strategy by the US government, have significantly impacted Sherritt's operations, leading to a wave of executive departures and a steep decline in its share price. To facilitate the breakup, Sherritt is seeking a court order, as the existing agreements could prolong the process. The company intends to exchange its 50% stake in the Moa nickel mine for full ownership of its refinery in Fort Saskatchewan, Alberta, along with a C$277 million equalization payment from its Cuban partner, reflecting the higher value of mining assets. Additionally, Sherritt will surrender its interest in Energas, an energy venture in Cuba. Following the announcement, Sherritt's shares rose 4.6% to 11.5 Canadian cents. The company has faced challenges since the sanctions were enacted, including the inability to release its first-quarter results as scheduled on May 15.