Anglo American Sells Nickel Unit in Brazil in Agreement Worth Up to $500 Million

Written by Valdemar Medeiros

Published on 20/02/2025 at 09:50

Foto gerada por IA

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Anglo American Closes Deal for the Sale of Its Nickel Units in the Mining Industry. Deal Provides for Up to US$ 500 Million Paid by MMG Limited.

This Tuesday (18th), the Anglo American Group announced the signing of the agreement for the sale of all its nickel units in Brazil to the wholly-owned subsidiary of MMG Limited (MMG), Singapore Resources Pte. Ltd. The value of the deal in the mining industry could reach US$ 500 million.

Understand How the Sale of Anglo American’s Nickel Unit Will Work

In a statement, Anglo American details that the mining deal involves two operational ferronickel assets located in the states of Goiás, in Barro Alto and Codemin (Niquelândia), along with two nickel mineral projects for future development: Morro Sem Boné (Mato Grosso) and Jacaré (Pará).

This amount, which will be paid by MMG Limited, includes an initial cash payment of US$ 350 million upon the completion of the deal, a deferred and conditional payment of up to US$ 100 million linked to the nickel sales price, and an additional amount of US$ 50 million tied to the decision on future development of the projects in the mining industry.

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According to Anglo American, the company’s nickel business is well positioned to meet the value chains of stainless steel and battery production. The project encompasses the processing plants and ferronickel mines in Niquelândia and Barro Alto, which together produced 39,400 tonnes of nickel in 2024.

In addition, both are part of an agreement for two other high-quality nickel mineral projects for future development: Jacaré, which has approximately 300 million tonnes of mineral resources, and Morro Sem Boné (MSB), which has a total potential of 65 million tonnes.

Barro Alto is the only nickel mine that meets the Initiative for Responsible Mining Assurance (IRMA 75 in English) standard, obtained in 2024. The completion of the sale in the mining industry is subject to customary conditions, including approval from competition and regulatory agencies. The amount of the initial payment, also subject to usual changes at the closing date, is expected to occur in the third quarter of this year.

MMG Issues Statement on the Acquisition in the Mining Industry

According to CAO Liang, CEO of MMG, the company is excited about the purchase of Anglo American’s nickel operation, which offers important diversification for MMG’s business, as well as consolidating its presence in Latin America. This is a robust project, with a talented team, proven excellence in sustainability performance, and established track record.

MMG is eager to continue this positive legacy. The companies have a long history of close collaboration and shared values demonstrated through their commitment to the principles of ICMM (International Council on Mining and Metals).

Ana Sanches, president of Anglo American in Brazil, states that in the coming months, the company will continue to work towards a smooth transition for both parties, prioritizing care for people and ensuring safety always comes first.

MMG will receive from Anglo American a legacy of over 40 years of history in Goiás, promoting sustainable development in the regions that host the company.

Anglo American Sells Nickel Unit in Brazil in Agreement Worth Up to $500 Million

Anglo American Closes Deal for the Sale of Its Nickel Units in the Mining Industry. Deal Provides for Up to US$ 500 Million Paid by MMG Limited.

Understand How the Sale of Anglo American’s Nickel Unit Will Work

Units Produced Almost 40 Thousand Tonnes of Nickel in 2024

MMG Issues Statement on the Acquisition in the Mining Industry

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Anglo American Sells Nickel Unit in Brazil in Agreement Worth Up to $500 Million

Anglo American Closes Deal for the Sale of Its Nickel Units in the Mining Industry. Deal Provides for Up to US$ 500 Million Paid by MMG Limited.

Understand How the Sale of Anglo American’s Nickel Unit Will Work

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