Glencore-backed group looks to rescue cobalt refiner Sherritt

• Glencore-backed Kyma Capital is bidding for control of Sherritt International, a Canadian miner with North America's only significant cobalt refinery, challenging a Trump-linked family office.
• The bid is complicated by US sanctions on Cuba, where Sherritt has a joint venture, leading to operational halts and financial distress for the company.
• Both parties aim to secure refining capacity for strategic metals outside China, with the outcome dependent on navigating sanctions and potential refinancing.

Topics: Asset types, Jurisdictions, Legal regulatory, Alternative assets, Emerging hubs, Enforcement actions litigation

Tags: #cobalt #sherrittinternational #glencore #sanctions #cuba #refinery #criticalminerals #kymacapital #gilloncapital #trump

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Cuba’s Communist Party approves opening economy in unprecedented move

The emergency economic package comes amid an ongoing US pressure campaign that has left the island nation reeling.

• Cuba's Communist Party has approved unprecedented free-market measures, including expanding private enterprise and attracting foreign investment.
• The reforms aim to address dire economic conditions, acknowledging both external US pressure and domestic factors like bureaucracy.
• The package signals a dramatic shift, potentially allowing private real estate development and the entry of private banks into the financial sector.

Topics: Asset types, Jurisdictions, Legal regulatory, Real assets, Emerging hubs, Securities law classification

Tags: #cuba #communistparty #economicreform #freemarketmeasures #privateenterprise #foreigninvestment #realestatedevelopment #stateownedbusinesses #privatebanks #uspressure

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