EU pauses investigation of Anglo, MMG nickel deal

EUROPEAN Union competition regulators have paused their investigation into China firm MMG’s proposed purchase of Anglo American’s Brazilian nickel operations after the parties failed to provide requested information within prescribed deadlines.The European Commission stopped the clock on 24 November, said Reuters citing an update on the regulator’s website. The pause will continue until the missing information is supplied, at which point the legal deadline for the Commission’s decision will be adjusted accordingly, the newswire said.The issue at heart of the investigation is that MMG could divert ferronickel from Europe, thereby harming European steel producers. The concerns emerge against broader anxiety over global supply chains for critical minerals and China’s dominant position in the sector, said Reuters.MMG’s largest shareholder is China Minmetals Corporation, a state-owned Chinese enterprise, raising additional scrutiny over the deal’s strategic implications for European industrial users.The Brazilian nickel business represents one of several assets Anglo American has been divesting as part of a broader restructuring programme. The sale would transfer control of significant nickel production capacity to a company with close ties to Beijing at a time when western governments are seeking to secure alternative sources of battery metals and other critical materials.The investigation’s suspension indicates potential complications in securing regulatory approval for the transaction, though parties can restart the process by providing the outstanding documentation requested by Brussels authorities.The post EU pauses investigation of Anglo, MMG nickel deal appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com