MMG, Anglo American extend $500 million nickel deal deadline
The extension comes as European regulators continue to investigate the deal and its impact on steel production.
MMG and Anglo American have extended the deadline for their $500 million Brazilian nickel deal by two months, as EU regulators review its potential impact on the region's stainless steel industry. The new long-stop date is now Dec. 31, 2026, rather than the original Oct. 31, 2026, deadline. The extension grants the companies time to address EU concerns raised in its Phase II investigation, which is expected to conclude by Dec.
21. MMG stated it will collaborate with the EU and Anglo American to aid the EU's review process. Anglo American initially agreed to sell its Brazilian nickel operations to MMG, prompting EU scrutiny over potential impacts on ferronickel supplies. The deal encompasses two ferronickel and two greenfield projects in Brazil. The EU has been examining the deal's implications for ferronickel supply for steel production since September 2025.
EU regulators are concerned that the acquisition could divert Brazilian ferronickel away from Europe, as the EU aims to lessen its reliance on China for ferronickel and steel production. Proponents of the deal argue that there is ample ferronickel availability and Chinese control wouldn't affect competition. Meanwhile, Anglo American hinted that it might shutter its Brazilian nickel operation if the EU rejects MMG's acquisition.
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