MMLTF - Anglo American to Sell Nickel Business to MMG for Up to US$500 Million

2025-02-20 04:27:25 ET

Anglo American (LSE:AAL,OTCQX:AAUKF) has agreed to sell its Brazil nickel operations to MMG Singapore Resources, a subsidiary of MMG (OTC Pink: MMLTF ,HKEX:1208), for a cash consideration of up to US$500 million.

According to a Tuesday (February 18) press release , the transaction includes Anglo American’s Barro Alto and Codemin ferronickel operations, along with two development projects, Jacaré and Morro Sem Boné.

The purchase price comprises an upfront payment of US$350 million, a potential price-linked earnout of up to US$100 million and a further US$50 million contingent on a final investment decision for the development projects.

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