Brussels, September 18, 2026: China-backed mining company MMG is seeking to address European Union competition concerns over its planned $500 million acquisition of Anglo American’s Brazilian nickel business, offering to maintain or potentially increase supplies of nickel products to European customers.
The European Commission issued a Statement of Objections to MMG on September 16, warning that the transaction could allow the company to redirect supplies of low-carbon ferronickel away from European stainless-steel producers toward affiliated Chinese producers. The Commission said such a shift could reduce supply alternatives and put upward pressure on prices in the European Economic Area.
MMG Offers Supply Assurances
MMG has indicated that it is prepared to provide long-term supply guarantees to European customers or the European Commission. The company says it intends to supply Europe with at least the volumes currently supplied by Anglo American and could potentially increase those volumes.
MMG has also argued that Europe remains an attractive market for Brazilian ferronickel and that it has neither the incentive nor plans to redirect the material to China.
Why the Deal Has Drawn EU Scrutiny
The proposed acquisition covers Anglo American’s Barro Alto and Codemin operations in Brazil, along with two undeveloped projects. The two operating assets produced approximately 39,700 tonnes of nickel contained in ferronickel in 2025.
The EU’s concerns partly relate to MMG’s ownership structure. MMG is controlled by China Minmetals Corporation, which is ultimately controlled by China’s State-owned Assets Supervision and Administration Commission (SASAC). The European Commission is concerned that this structure could create incentives to redirect ferronickel toward affiliated Chinese stainless-steel producers.
Anglo American Disputes EU Assessment
Anglo American has pushed back against the Commission’s concerns, arguing that the assessment does not sufficiently account for the expansion of ferronickel supply over the past year.
The company has said European buyers have access to suppliers across Latin America, New Caledonia and Asia and that the proposed transaction would not reduce the number of suppliers serving the European market.
Decision Expected by November 30
MMG can now respond to the Commission’s objections, examine the case file and request an oral hearing. The European Commission has until November 30, 2026, to reach a final decision on the transaction.
The case highlights the growing importance of nickel and other critical minerals to Europe’s industrial supply chains, while also reflecting the EU’s scrutiny of acquisitions involving companies linked to China’s state-owned mining sector.