Anglo American Sells Brazilian Nickel Assets for $500 Million in Bold Restructuring Move
Anglo American, a British mining giant, announced on February 18, 2025, via a press release, that it sold its Brazilian nickel business to MMG for up to $500 million.
This deal marks a key step in its global restructuring, launched nine months ago, to focus on copper, iron ore, and agricultural nutrients. MMG, a subsidiary of China Minmetals, now enters Brazil’s nickel market with this acquisition.
The transaction covers two operating mines, Barro Alto and Codemin in Goiás, which produced 39,400 tons of nickel in 2024. It also includes two development projects, Jacaré in Pará with 300 million tons of resources and Morro Sem Boné in Mato Grosso with 65 million tons.
MMG pays $350 million upfront, with $100 million tied to nickel prices and $50 million linked to future project decisions, set to close by Q3 2025. This sale follows Anglo American’s rejection of BHP’s $43 billion takeover bid in May 2024, prompting a strategic shift.
The company aims to generate $5.3 billion from this deal and a prior coal sale in Australia. CEO Duncan Wanblad stated it simplifies the portfolio, boosting value after a competitive bidding process.
Strategic Shifts in Mining
Meanwhile, MMG’s CEO Cao Liang emphasized the deal diversifies their copper and zinc-heavy operations, strengthening their Latin American presence. Nickel, vital for stainless steel and EV batteries, trades at $15,271 per ton, facing oversupply pressure from Indonesia.
Yet, demand may rise with EV growth, making Jacaré and Morro Sem Boné valuable long-term assets. Barro Alto stands out as the only nickel mine globally certified at IRMA 75 for sustainability, a rare feat achieved in 2024.
Anglo American retains its $12 billion Minas-Rio iron ore project in Brazil, ensuring a foothold there. The company’s stock, at £2,469.50, reflects a 39% rise over 12 months, valuing it at £29.9 billion.
This move highlights Anglo American’s pragmatic pivot amid shareholder pressure and MMG’s calculated expansion. It underscores a shifting mining landscape, where strategic sales reshape global supply chains for critical metals.
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+1.00%
177,418.78
+1.00%
65,048.39
-0.67%
11,315.26
-1.14%
3,052,917
+2.47%
2,476.26
+0.75%
59,928.30
+0.07%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,418.78 | +1.00% | +21.85% | 175,664.62 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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