MMG to Buy Anglo American’s Brazil Nickel Assets for $500M, Plans Multi-Billion Expansion

This is a notable pivot for MMG, a company better known for base metals, into nickel via assets that Anglo American had already flagged as non-core. The undeveloped Pará and Mato Grosso projects are the real story: they could roughly triple the acquired capacity, which is why the multi-billion-dollar follow-on spend matters more than the $500 million headline. Regulatory clearance from the European Commission is the immediate gate, and whether MMG commits to the greenfield projects — or flips them — is the open question for Brazil's nickel supply outlook.