Sherritt surges as Obama ends US isolation of Cuba

U.S. President Barack Obama's call for a "new approach" in Washington's relationship with Cuba, including the establishment of diplomatic relations and an easing of economic and travel restrictions, lifted the shares of Sherritt International (TSX: S), which has operated in the shunned island state for more than two decades.

The Toronto-based mining company is the largest independent energy producer in Cuba and its oil and gas business there accounted for 26%, or $219.7 million, of Sherritt's $858 million in adjusted revenue during the first nine months of 2014.

"We have a unique position in Cuba – we're the most successful investor – and we see that as a differentiating characteristic," David Pathe, Sherritt's president and CEO, said in an interview on Dec. 15, a day before Obama announced he was ending America's "outdated approach" to the communist country.

Read the complete article at NorthernMiner.com/news/sherritt