Finance
Anglo-American's $500 million MMG deal faces EU antitrust probe, sources say
Published by Global Banking & Finance Review®
Posted on October 29, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 29, 2025
2 min readLast updated: January 21, 2026
The EU is reviewing Anglo American's $500M deal with MMG due to antitrust concerns, focusing on nickel supply in Europe.
By Foo Yun Chee
BRUSSELS (Reuters) -Anglo American's $500 million sale of its Brazilian nickel assets to a unit of Hong Kong-listed MMG faces an EU antitrust investigation after regulators rejected the companies' proposed remedies, two people with direct knowledge of the matter said on Wednesday.
The companies had offered to buy ferronickel from MMG for resale in Europe for up to 10 years to ease concerns that the deal could cut off some of the supply of the metal for customers in Europe amid global concerns about the supply of key minerals under China’s influence.
The European Commission, which acts as the EU competition enforcer, has not asked for feedback from rivals and customers regarding the proposed remedy, one of the sources said.
The EU executive, which is scheduled to finish its preliminary review of the deal on November 4, did not immediately respond to a request for comment.
The companies said in a joint statement that they continue to work with the Commission to secure its approval for the deal.
"This includes the measures that we have recently put forward to ensure continued access to sustainable produced cupronickel, which we believe presents them the most positive outcome for customers," they said.
"We believe that European customers would support Anglo American's ongoing role as a marketer of cupronickel, while supply competition in Europe would also increase with the addition of MM as a new supplier," they added.
(Reporting by Foo Yun Chee;Editing by Ros Russell and Elaine Hardcastle)
Ferronickel is an alloy of nickel and iron, primarily used in the production of stainless steel. It is produced through the smelting of nickel ores and is an important material in the metal industry.
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the day-to-day operations of the EU, including competition policy.
Cupronickel is an alloy of copper and nickel, known for its corrosion resistance and strength. It is commonly used in marine applications, coins, and various industrial products.
Key minerals are essential raw materials necessary for various industries, including technology and manufacturing. They often include metals like nickel, copper, and rare earth elements.
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