Sumitomo Corporation said that Madagascar's Ambatovy nickel project companies expected to complete a debt restructuring in early December. Sumitomo holds a 54.2% stake in the project companies, mining company Ambatovy Minerals, and refining company Dynatec Madagascar, with the balance held by Korea Mine Rehabilitation and Mineral Resources Corp.

A London court has approved the project companies’ restructuring plan. Sumitomo emphasized that it will continue to evaluate all options to ensure the best interests of stakeholders and is reviewing the impact of the restructuring on the company's finances.