Anglo American will close its Brazilian nickel operations, centered on Barro Alto in Goias, if the European Commission blocks the $500 million sale to Hong Kong-listed MMG, the company plans to tell regulators at a closed-door hearing on Thursday. Brazil chief operating officer Ruben Fernandes will say the prolonged review has already created considerable uncertainty locally, and that blocking the sale would be, in his words, very concerning given the company’s more-than-two-year commitment to exit the nickel business.
The Commission warned last month that MMG could divert nickel supply away from Europe, harming European stainless-steel producers, a case set against EU anxiety over dependence on China for critical minerals. Anglo American calls MMG the only reliable buyer it found after a review of operational capability, track record, employee plans, value and financing, and will argue a practical solution addressing Brussels’ concerns can be found. MMG’s corporate-relations chief Troy Hey will also attend to defend the deal before senior Commission officials and lawyers.