A request was made by plaintiffs in a wartime forced labour case to seize part of the local assets.
Sumitomo Metal Corp Mining News
The application for the asset seizure, if approved by the court, could further strain South Korea's already frosty bilateral relations with Japan.
Global demand for nickel is seen increasing by 3.4 percent in 2019 from this year to 2.339 million tonnes.
Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.
Natural disasters and glitches at their ageing facilities have prevented Nippon Steel from producing as much steel as they had planned.