It is understood that Canadian mining company Sherritt International will increase investment in nickel and cobalt mines in Cuba. At present, the annual production of nickel and cobalt mines in Moa and Holguín mines in Cuba is about 35,000 tons, and the output value is expected to increase by 20% after increasing investment.

Bloomberg (Bloomberg) said on this event that the current electric vehicle market that needs to use more durable batteries is rapidly emerging, and the demand for nickel and cobalt ore (durable battery electrode materials) has also increased. Leon Binedell, the new president of Sheritt International, visited Cuba in October 2021. Binedell expressed the hope to improve the country's nickel and cobalt mine production capacity, and said that the company will seek low-cost, low-risk investment methods Profit from continuous increase in production.