MMG’s $500M nickel acquisition from Anglo American faces EU scrutiny

MMG’s $500M bid for Anglo American’s nickel assets faces EU scrutiny over Chinese ownership amid global nickel demand for EVs and stainless steel.

China-backed miner MMG is moving forward with its $500 million bid to acquire Anglo American’s nickel assets, but European regulators are expressing concerns over Beijing’s influence on critical mineral supply chains.

European antitrust concerns

Troy Hey, MMG’s Executive General Manager of Corporate Relations, confirmed that European antitrust officials have questioned the company’s Chinese majority ownership. Despite these concerns, Hey emphasized that MMG remains confident the deal will receive approval.

"From a competition basis, we’re very confident that as new entrants to this market... and with very strong demand in Europe, we’re in a good place," Hey told the Financial Times.

Regulatory scrutiny extends beyond Europe

Brazil’s competition authority has opened a probe since Anglo’s nickel operations are based there, even though MMG does not currently operate in Brazil. Europe is a key destination for ferronickel from Anglo’s mines, which predominantly supplies stainless steel manufacturers.

In the United States, the American Iron and Steel Institute has urged regulators to block the deal, citing concerns that it would give Beijing direct influence over major nickel reserves—a critical material for electric vehicle batteries and stainless steel production.

Anglo American’s strategic restructuring

The proposed sale is part of Anglo American’s broader restructuring strategy. The mining giant spun off its platinum business in May, creating Valterra, and in July classified its nickel and steelmaking coal divisions as discontinued operations pending divestment.

Anglo is increasingly focusing on copper, aiming to become the world’s fifth-largest producer if its planned $53 billion merger with Canada’s Teck Resources proceeds.