Sumitomo says Ambatovy to miss FY18/19 nickel output target

Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy project in Madagascar will likely fall short of its earlier target of 48 000 t in the year to March 2019, its chief financial officer said on Friday.

"The Ambatovy has run at about 64% to 65% of full capacity in the April to June quarter and it is running at about 70% now," Sumitomo CFO Koichi Takahata told a news conference, adding that it aims to raise and maintain the rate at 80% as soon as possible.