Anglo American to Sell Brazilian Nickel Business to MMG Singapore Resources

---

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Anglo American plc (London, England) will sell its Brazilian nickel business to MMG Singapore Resources (Singapore) for US$500 million.

The acquisition is part of MMG's strategy to expand its geographical locations and base metal commodity exposure.

The transaction will comprise the Barro Alto and Codemin ferronickel operations in Brazil, as well as the Jacare and Morro Sem Bone greenfield growth projects.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant and Project Databases can click here for profiles on the Barro Alto and Codemin operations, and click here for reports on the Jacare and Morro Sem Bone projects.

The transaction will include a US$350 million upfront payment, expected to take place during third-quarter 2025, the potential payment of up to US$100 million in a price-linked earnout with a nickel realized price set at US$7.1 per pound, and a final transaction of US$50 million linked to the development of the greenfield projects.

The Barro Alto and Niquelandia (Codemin) mines are open-pit assets located in the Goias province, with a combined mine life of 18 years. In 2024, Barro Alto produced 32,000 tons of nickel, while Niquelandia (Codemin) had an output of 7,000 tons.

Together, the two assets have measured and indicated nickel resources of 310,000 tons at a grade of 1.18%.

Nickel Brazil, as the four combined assets are known, would represent the third-largest portfolio of contained reserves and resources of nickel with 5.23 million tons, only behind the Weda Bay and Halmahera projects.

With the development of the four assets, MMG could become one of the world's largest nickel miners. The acquisition is part of the company's efforts to expand its presence in Latin America.

"We are excited by our acquisition of Anglo American's nickel business, which provides important diversification for our business and strengthens our presence in Latin America. This is a strong business with a talented team, growth potential and demonstrated excellence in sustainability performance and we look forward to continuing this positive legacy. MMG and Anglo American have a long track record of close collaboration and shared values demonstrated through our commitment to ICMM principles. We look forward to working together towards completion," said Cao Liang, chief executive officer of MMG.

MMG also owns the Las Bambas mine in Peru, one of the world's largest copper mines.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).