Sumitomo Corp to exit Ambatovy nickel project in Madagascar
Geopolitics · Reuters ·
Japanese trading house Sumitomo Corp will divest its stake in the Ambatovy nickel project in Madagascar to Ambatovy Mineral Resources Investment, effectively paying $418 million to offload the asset. AMRI is a Jersey-based mining-focused investment consortium led by Essenwood Partners and Zungu Investments Company, marking a major reshaping of one of the world's largest nickel-cobalt operations.