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6h ago

European Commission Opens In-Depth Probe Into MMG’s Purchase of Anglo American’s Brazil Ferronickel Assets

Officials set a March 20 decision deadline over the $500 million sale on concerns the buyer could divert ferronickel from European producers.

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Overview

  • The inquiry centers on whether MMG could restrict ferronickel supplies to EU stainless‑steel makers and increase their production costs.
  • The deal includes the Barro Alto and Codemin operations in Goiás and the Jacaré and Morro Sem Boné development projects in Brazil.
  • Regulators rejected proposed remedies, including a plan for Anglo to buy ferronickel from MMG for resale in Europe for up to 10 years.
  • Anglo American and MMG said they do not see competition issues and pledged to cooperate with the EU to resolve remaining concerns.
  • MMG is controlled by China Minmetals, and U.S. industry group AISI has urged the White House to scrutinize the transaction over broader nickel‑supply worries.