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EU regulators prepare antitrust warning for MMG's Anglo nickel deal
The European Commission is expected to issue a statement of objections later this month, though the filing would not by itself stop the planned acquisition.
European Union regulators are preparing to issue an antitrust charge sheet to MMG over its planned purchase of Anglo American's Brazilian nickel business, Reuters reported, citing people familiar with the matter.
The European Commission plans to publish a statement of objections later this month outlining the competition concerns MMG would need to address to win approval. MMG could potentially avoid the charge sheet by offering remedies, but one person cited by Reuters said that outcome is unlikely.
The deal, agreed in February 2025, would transfer two ferronickel operations and two greenfield projects. Regulators have also faced scrutiny beyond Europe, including an investigation by Brazil's competition authority after a complaint by CoreX Holding, a competitor in the region.
The case comes as the EU seeks to reduce reliance on China for critical minerals used in defence, technology and renewable energy, amid Beijing export controls on some mineral supplies. The EC has previously said the transaction could let MMG divert ferronickel supply away from Europe, potentially weakening the competitiveness of the bloc's stainless steel producers, while Anglo argues additional supply and customer switching support approval without conditions.