Ambatovy Nickel Project Files Debt Restructuring Plan in English Court

Madagascar's Ambatovy nickel project companies have submitted a debt restructuring plan to an English court, as confirmed by a spokesperson from Sumitomo Corp, the project's major shareholder. Sumitomo holds a 54.2% stake in the project, which includes Ambatovy Minerals, a mining company, and Dynatec Madagascar, a refining company. The remaining stake is owned by Korea Mine Rehabilitation and Mineral Resources.

According to Sumitomo, the restructuring plan is aimed at ensuring the continued stable and efficient operation of the Ambatovy project. The spokesperson emphasized that this move is not part of a liquidation process but is focused on maintaining the project's viability.