Biden easing up on Cuba would boost Sherritt, CEO says – by Stephen Wicary and Steven Frank (Bloomberg News – November 19, 2020)

Joe Biden’s victory in the U.S. presidential election marks a potential new chapter for one of Cuba’s biggest foreign investors.

Sherritt International Corp.’s top executive calls the result of the vote good news for his company, given the steady tightening of sanctions under President Donald Trump. Sherritt produces nickel and cobalt in Cuba for the global market, and has a growing energy business on the Caribbean island.

“We were prepared for whatever the outcome would be,” Chief Executive Officer David Pathe said in an interview this week. “Certainly seeing a Biden outcome was more positive for us over the next few years than a reelection of the Trump administration.”

While Sherritt doesn’t make decisions based on assumptions about the direction of U.S. policy, the election still leaves its CEO feeling hopeful.

Known as a proxy for Cuba ever since Pathe’s predecessor gambled on partnering with Havana’s communist government in the 1990s, Sherritt was pushed to the brink during Trump’s tenure.

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