Brazil: Anglo American sells nickel business to MMG for up to $500 million

Anglo American, a leading mining company, has agreed to sell its nickel business, including two Brazilian ferro nickel operations and growth projects, to MMG for up to $500 million. The deal includes an upfront $350 million, with additional earnouts and contingent payments. This sale simplifies Anglo American’s portfolio, to focus largely on copper, iron ore, and crop nutrients, while strengthening MMG’s presence in Latin America.