OREANDA-NEWS. Sumitomo Corporation announced that Ambatovy Nickel Project , which has an integrated production system encompassing all stages from mining to refinery in collaboration with Sherritt International Corporation and Korea Resources Corporation in Madagascar, agreed on six principal payment deferrals under the project financing starting from June 15, 2016, aggregated amount of US$565mil.

With the achievement of the principal payment deferrals, which allows Ambatovy to manage cash flow under current low nickel price environment, the project continues to strengthen competitiveness through high-level, stable operation and further cost reduction.