The major expenditure will be on the nickel-bonded-steel coinage operations, doubling the capacity to 5,500 tonnes per year. (The nickel-coated material has similar characteristics of color, magnetic properties, mintability and wearability to pure nickel coins but costs less to produce.)
Sherritt’s aureate-nickel facility, which produces the new Canadian dollar coin blank as well as the Netherlands five guilder blank, is also being expanded.
In other news, Sherritt says it will move its front office operations from Toronto to Fort Saskatchewan, about 20 miles northeast of Edmonton. The company will build a $140-million research laboratory next to its coinage and metal- processing facilities there.
The Alberta government has agreed to contribute $40 million, and the federal government $30 million, towards the research facility, which is expected to be built within three years. Sherritt and the two levels of government are forming a joint venture, named Westaim, which will manage the new facility and its research into advanced industrial materials.
]]>
Be the first to comment on "Sherritt expanding coinage facilities"