#China’s grip on global #Nickel supply tightens with #Anglo sale

Posted on February 24, 2025 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

LONDON, Feb 24 (Reuters) – Anglo American’s sale of its Brazilian nickel business to China’s MMG Ltd presents a corporate win-win.

Anglo fulfills its promise to shareholders by simplifying its portfolio and gaining up to $500m. Meanwhile, MMG, a major copper, cobalt, and zinc producer, diversifies into nickel and expands into Brazil, targeting the resilient segment of the nickel market.

However, this raises concerns for Western nations trying to reduce reliance on China for nickel supply, as Chinese firms already control about 75% of Indonesia’s refining capacity. With other Western nickel producers seeking to sell due to low prices, China’s dominance could increase further.