China’s grip on global nickel supply tightens with Anglo sale

Anglo’s Brazilian assets comprise two mines and two processing plants with annual combined capacity of 40,000 tonnes of nickel. — Reuters

ANGLO American’s sale of its Brazilian nickel business to China’s MMG Ltd is a corporate win-win. Anglo gets to deliver on its promise to shareholders to simplify its portfolio and pockets up to US$500mil.

MMG, which is already a major producer of copper, cobalt and zinc, gets to diversify into another metal and expand its geographic footprint into Brazil.