MMG Anglo American $500M Nickel Deal Faces EU Antitrust Probe

Mining companies Anglo American and MMG are facing a potential in-depth antitrust investigation by the European Union regarding MMG's $500 million acquisition of Anglo American's Brazilian nickel business. The EU competition authorities have expressed concerns that the deal could restrict supplies of ferronickel, an alloy essential for stainless steel production, to European customers, potentially harming the bloc's stainless-steel industry. Although the companies proposed a remedy involving Anglo American purchasing ferronickel from MMG's Brazilian mines for resale in Europe for up to ten years, regulators have rejected this offer and declined to seek feedback from rivals and customers. Both MMG and Anglo American have stated their willingness to cooperate fully with the EU if a formal probe is launched, expressing confidence in resolving regulatory concerns. The European Commission has a deadline of November 4 to decide whether to clear the deal or proceed with a deeper investigation. The developments come amid wider industry restructuring efforts and underscore the EU's vigilance over supply chain security for critical raw materials.