Anglo American threatens to shutter Brazilian nickel mine over EU block

The warning from COO Ruben Fernandes and CFO Cristina Morgan comes as the EU antitrust watchdog scrutinizes the deal over fears that supply could be diverted away from European stainless steel producers. The Commission previously signaled concerns that the acquisition by a Chinese-linked entity might threaten the bloc’s access to critical minerals, citing the industry's reliance on Beijing.

Fernandes intends to argue that the regulatory impasse has already created instability for local operations. He plans to testify that if the Commission prohibits the sale, the firm will move the asset toward a "care and maintenance" phase, effectively marking the beginning of a total shutdown. The company maintains that they have been attempting to exit the nickel sector for over two years.

To address EU concerns, the company plans to emphasize MMG’s credentials as a member of the International Council on Mining and Metals. Executives will argue that the buyer possesses the operational track record and capital necessary to serve European customers reliably. MMG executive Troy Hey is also scheduled to attend the hearing to defend the merits of the transaction to senior officials.