Insight
Anglo American sells Brazilian nickel assets to MMG
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
On 18 February 2025, MMG Limited announced its agreement to acquire Anglo American's Brazilian nickel assets (Barro Alto, Codemin and two greenfield projects – Jacaré and Morro Sem Boné) for up to US$500 million. This move aligns with MMG’s base metals growth strategy, enhancing geographic and commodity diversification. The acquisition grants MMG access to a major ferronickel producer, featuring long-life assets with strong ESG credentials. The deal is expected to close in Q3 2025. In the Insight we analyse the transaction's strategic implications, asset performance, and examine the deal's significance in the context of the evolving nickel market and global energy transition.
Table of contents
- Barro Alto
- Codemin
Tables and charts
This report includes the following images and tables:
- Map of MMG's acquired nickel assets in Brazil
- Nickel Brazil's C1 cash costs versus the realised nickel price
- Barro Alto and Codemin on the nickel industrial cost curve
- Barro Alto and Codemin Emission Intensity Quartile Ranking - total global production - tonnes Ni equivalent
What's included
This report contains:
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