The European Commission issued a formal statement of objections regarding Anglo American’s proposed $500 million sale of its Brazilian nickel business to China’s MMG. Regulators warn the acquisition could restrict competition and increase costs for European stainless steel producers.
The commission expressed specific concern that MMG might divert low-carbon ferronickel supplies away from the European market. This antitrust warning pressures MMG to propose remedies before the November 30 final decision deadline.
Anglo American expressed disappointment with the stance, arguing the transaction will not change the number of market suppliers. MMG stated it is willing to guarantee long-term ferronickel supplies to European customers to resolve the dispute.