[SMM Flash News] EU May Formally Object to MMG’s $500 Million Acquisition of Anglo American’s Brazilian Nickel Assets

Published: Sep 14, 2026 00:23

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EU regulators are preparing to issue a statement of objections to MMG over its proposed $500 million acquisition of Anglo American’s Brazilian nickel business, according to media reports. The transaction covers the operating Barro Alto and Codemin ferronickel assets and two undeveloped projects. The European Commission opened an in-depth investigation in November 2025 over concerns that MMG, which is controlled by state-owned China Minmetals, could redirect low-carbon ferronickel away from Europe, potentially raising costs for regional stainless steel producers. MMG argues that it has neither the ability nor incentive to restrict European supply, while Anglo American maintains that the market has gained additional ferronickel capacity and customers can switch suppliers. The review remains ongoing, and no final decision has been announced.

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