China gains control of 60% of Brazil’s nickel output after acquiring major mines
Photo: Anglo American.
Anglo American has agreed to sell its Brazilian nickel assets, including the Barro Alto and Codemin complexes in Goiás, as well as mines in Pará and Mato Grosso, to Chinese state-owned company MMG, a subsidiary of China Minmetals, for roughly USD 500 million.
This acquisition gives China control over about 60 % of Brazil’s nickel output, a vital resource for the global energy transition, with applications ranging from electric vehicle batteries to high-grade stainless steel and advanced electronics.
The deal has sparked domestic and international controversy. Brazil’s INCRA, the federal land agency, is examining whether the sale might contravene national restrictions on foreign acquisition of rural land, raising concerns about sovereignty.
Turkish firm Corex Holding claims it had made an offer of USD 900 million, nearly double MMG’s bid, yet was allegedly bypassed without explanation. Corex has filed formal complaints with Brazil’s antitrust authority CADE and the European Commission, warning that this deal threatens competition and Europe’s nickel supply security.
In the U.S., the Iron and Steel Institute urged the Trump administration to intervene, flagging the acquisition as part of Beijing’s growing control over critical mineral supply chains
Main Source:
Brasil: China compra plantas y domina producción de níquel – La Nación
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