Says Deadline, "Since Michael Shannon is playing General Zod, might Traue be playing his accomplice, Ursa, who appeared in the first two Superman films? Traue starred with Ben Foster and Dennis Quaid in Pandorum, and she is currently in Sweden shooting the Peter Flinth-directed Nobels Testament."
UPDATE FROM VARIETY:
Traue is confirmed for Man of Steel, with Variety also noting that she will be portraying the villainous Faora. Says the trade publication, "There are multiple Faoras in the Superman universe, so it remains unclear which one Traue has been tapped to play. The first Faora, Faora Hu-Ul, was introduced in Action Comics #471 as a beautiful Kryptonian woman with an intense unexplained hatred for all men. She was an expert at the Kryptonian martial art of Horo-Kanu, which utilizes pressure points on the Kryptonian body and made her a dangerous foe for Superman to fight in hand-to-hand combat. In fact, he was forced to flee from their first encounter. That said, it's more likely that Traue will be playing the version of Faora that debuted in Action Comics #779 as a Pokolistanian aide of General Zod. That character was an orphan metahuman with the ability to disrupt molecular bonds, which allowed her to create a mutagenic virus that served as the linchpin of Zod's plan."
To get a feel for the actress, check out this interview about her horror film Pandorum: