EU issues Statement of Objections over MMG bid for Anglo American nickel
The Commission says MMG's planned purchase of Anglo American's nickel business may restrict competition in low-carbon ferronickel. It prejudges nothing.
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A Statement of Objections is the Commission's preliminary view, so nothing is settled until it rules. The concern is where the ferronickel would be sold, and the next fixed date is the 30 November 2026 decision deadline.
The European Commission announced on 16 September 2026 that it has informed MMG Limited, in a Statement of Objections, of its preliminary view that the proposed purchase of Anglo American’s Brazilian nickel business may restrict competition in low-carbon ferronickel.
The Commission preliminarily found a highly concentrated market, substantial market power at the target and few alternatives for European buyers. It is concerned MMG could divert supply away from European stainless steel producers, raising their costs, towards producers controlled by China’s State-owned Assets Supervision and Administration Commission, which also controls MMG’s parent, China Minmetals.
The objections do not prejudge the outcome, the Commission says; MMG may reply. The deal was notified on 16 September 2025, the in-depth investigation opened on 4 November 2025, and a decision is due by 30 November 2026.
Anglo American agreed the sale in February 2025 for up to US$500 million, of which US$350 million is payable at completion and the rest is tied to nickel prices and to development decisions on the Jacaré and Morro Sem Boné projects. Anglo said its operating assets produced 39,400 tonnes of nickel in 2024.
Sources
- European Commission: Commission sends Statement of Objections over the proposed acquisition of Anglo American's nickel business by MMGprimary source · Published
- Anglo American: Anglo American agrees sale of nickel business for up to $500 millionsecondary source · Published