A spokesperson of Sumitomo Corporation said Madagascar’s Ambatovy nickel project companies submitted a debt restructuring plan to a court in London, without disclosing details on the debt restructuring plan or future plans for the project, saying that this filing is part of their efforts to ensure the project operates stably and efficiently and is not a liquidation process, adding that all options are being considered.

Sumitomo owns a 54.2% stake in the project companies, a mining company Ambatovy Minerals, and a refining company Dynatec Madagascar, and the residual stake is held by Korea Mine Rehabilitation and Mineral Resources.