Toronto-based Sherritt International Corp. on Jan. 15 announced that it is reducing its workforce across Canada by 10% with an annual employee cost savings of C$13 million. It is also making changes to executive management as it seeks to improve Metals segment operations following a disappointing 2023. Metals will be streamlined, while Technologies will be restructured.
Sherritt is consolidating operational leadership with the appointment of Elvin Saruk as Chief Operating Officer, responsible for leading both Sherritt’s Metals and its Power and Oil and Gas divisions. The company said he has more than 30 years of experience with Sherritt, including at the senior executive level managing large-scale operations, overseeing complex high pressure acid leach (HPAL) mining and processing projects, and strengthening partner relations while overseeing operations in Cuba.
Prior to this appointment, Saruk was Senior Vice-President, Oil and Gas and Power, and Head of Growth Projects, most recently responsible for leading the Moa Joint Venture’s expansion program and growing production at the corporation’s Power division during 2023. Along with this change, Dan Rusnell, Senior Vice President, Metals, has left the organization.
“We would like to thank Dan for his years of service and valuable contributions to Sherritt. We wish him the very best in the future,” said Leon Binedell, President and CEO of Sherritt.