The Anglo American group announced on Tuesday, 18, the signing of the sales agreement of all its nickel business in Brazil for MMG Singapore Resources PTE. LTD, MMG Limited Integral Subsidiary (MMG). The value of the business can reach $ 500 million.
In a statement, the company details that the business will involve two operational actives of Ferroniquel present in Goiás -Barro Alto and Codemin (Niquelândia) -along with two nickel mineral projects for future development: hill without a cap (Mato Grosso) and Jacaré (Pará ).
This amount to be paid by MMG comprises a $ 350 million initial cash disbursement in the completion of the business; a deferred and conditional portion of up to US $ 100 million linked to the sales price of nickel; In addition to an additional value of up to $ 50 million linked to the decision of the future development of mineral projects.
“The sale of our nickel business, after a highly competitive process, marks another important step towards the simplification of our portfolio, to create a more valuable, copper -focused company, premium iron ore and agricultural nutrients,” he says Duncan Wanblad, president of the Anglo American group.
The executive points out that with today’s agreement, together with the sale of the metallurgical coal unit in Australia, signed in November 2024, the company expects to generate a total amount to the company’s cash of up to $ 5.3 billion.
MMG CEO Cao Liang, in turn, says he is enthusiastic about the acquisition of Anglo American’s nickel operation, which provides important diversification for the business and strengthens the company’s presence in Latin America.
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Together, the Crando Alto and Niquelândia iron processing plants produced 39,400 tons of nickel in 2024. The alligator project, in turn, has potential for approximately 300 million tons of mineral resources, and hillless hill (MSB), 65 million tons.
The conclusion of the negotiation is subject to the usual conditions, including the approval of the regulatory and competition bodies. The initial payment amount is subject to usual adjustments on the closing date, scheduled for the third quarter of this year.
MMG is an international mining company, subsidiary of China Minmetals, a state organization and one of the largest mining companies in China. MMG operates and develops copper, zinc and other basic metals in Australia, Botsuana, Democratic Republic of Congo, Peru and Canada.
