Canadian mining company Sherritt International Corp. is reporting a $48.3-million profit for the fourth-quarter.
That's a big contrast to the $592.1-million loss reported a year earlier, when Sherritt took a major writedown on a nickel project in Madagascar.
Sherritt says all major earth work at the project's plant and mine were completed in the quarter, as well as an offshore oil jetty and a facility for managing tailings.
Construction on the massive multiyear project that Sherritt is building on behalf of its partners will continue this year.
Revenue from the Toronto-headquartered company's current metal, coal and oil operations in the fourth quarter was little-changed at just under $380-million.