China’s MMG moves to ease EU concerns over $500M Anglo nickel deal
The European Commission has formally objected to MMG’s planned purchase of Anglo American’s Brazilian nickel business for up to $500 million, saying the deal may restrict competition by allowing the miner to divert low-carbon ferronickel away from Europe to affiliated Chinese stainless steel producers. MMG responded that Europe remains the most attractive market for the Brazilian ferronickel, pledged to maintain or increase supplies, and said it is prepared to provide guarantees to European customers or the Commission. The commission has until Nov. 30 to make a final decision.
Why it matters: This matters for the briefing’s theme of critical minerals and supply-chain security, as the EU is trying to keep Chinese state-controlled ownership from redirecting low-carbon ferronickel away from European buyers.