European Commission Sends Statement of Objections Over MMG's Acquisition of Anglo American's Nickel…

The European Commission has sent a Statement of Objections to MMG Limited over its proposed acquisition of Anglo American's nickel business, preliminarily finding the deal may restrict competition in the low-carbon ferronickel market. The Commission is concerned MMG could divert low-carbon ferronickel supply away from European markets toward its affiliated stainless steel producers, raising costs for European stainless steel production. MMG is controlled by China Minmetals Corporation, which is controlled by SASAC, which also controls several stainless steel producers. The Commission must decide by Nov. 30, 2026.