Regulator Clears the Path
On September 17, 2025, Brazil’s antitrust authority announced it was shelving its investigation into Anglo American’s sale of a nickel asset to a subsidiary of MMG, the Chinese-controlled mining group. The probe had focused on potential competition and market-concentration issues in Brazil’s nickel sector. By formally dropping the case, regulators removed one of the last procedural hurdles for the transaction, signaling that the deal does not pose a significant threat to market competitiveness.
Strategic Value of Nickel
Nickel is increasingly strategic for Brazil and global markets alike, as it is a core component in the production of electric-vehicle batteries and stainless steel. Anglo American’s divestment reflects a broader portfolio restructuring, while MMG is seeking to expand its presence in critical minerals. With the antitrust case resolved, the sale positions MMG to strengthen its foothold in Latin America’s resource base at a time when demand for nickel is projected to rise sharply.
Implications for Market Dynamics
The decision illustrates Brazil’s pragmatic approach to foreign investment in its critical-minerals sector: welcoming new capital while exercising regulatory oversight. For MMG, the acquisition deepens ties to Brazil and underscores China’s ongoing strategy of securing mineral resources worldwide. For Anglo American, it frees up resources for other projects, including copper and iron ore. More broadly, the resolution of the case reinforces Brazil’s image as an investment-friendly jurisdiction, though one where strategic minerals will remain subject to close political and market scrutiny.