Anglo May Sell Brazil Nickel Unit to Vale, Deutsche Bank Says
Anglo American, which is reviewing assets globally as it tries to return to profit, may offer its Brazilian nickel unit to the nation’s largest miner Vale SA as metal prices increase, Deutsche Bank AG said.
Nickel will probably peak at $27,000 a metric ton in 2017, Deutsche analysts Rob Clifford, Anna Mulholland and Paul Young wrote in a report dated yesterday, raising the bank’s forecast of $20,000 a ton in 2018. The metal has surged 40 percent in London trading this year after leading global miner Indonesia barred exports of raw ores in January.
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