Anglo American: sells nickel business to MMG
(CercleFinance.com) - Anglo American has reached a definitive agreement to sell its nickel business to MMG Singapore Resources Pte, a subsidiary of MMG.
The nickel business comprises two ferronickel operations in Brazil - Barro Alto and Codemin - and two growth projects - Jacaré and Morro Sem Boné.
The agreed cash consideration of up to $500 million includes an initial cash portion of $350m on completion. A contingent consideration of up to $100 million with a further $50m in cash linked to the final investment decision (FID) for the development projects.
Duncan Wanblad, Anglo American's Chief Executive, said that the sale of our nickel business following a highly competitive process marks another important step towards simplifying our portfolio to create a higher value copper, premium iron ore and crop nutrient business.
Today's agreement, together with those signed in November 2024 for the sale of our coal steel operations, are expected to generate gross cash proceeds of up to $5.3 billion, reflecting the high quality of our coal and nickel steel operations, he added.
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The nickel business comprises two ferronickel operations in Brazil - Barro Alto and Codemin - and two growth projects - Jacaré and Morro Sem Boné.
The agreed cash consideration of up to $500 million includes an initial cash portion of $350m on completion. A contingent consideration of up to $100 million with a further $50m in cash linked to the final investment decision (FID) for the development projects.
Duncan Wanblad, Anglo American's Chief Executive, said that the sale of our nickel business following a highly competitive process marks another important step towards simplifying our portfolio to create a higher value copper, premium iron ore and crop nutrient business.
Today's agreement, together with those signed in November 2024 for the sale of our coal steel operations, are expected to generate gross cash proceeds of up to $5.3 billion, reflecting the high quality of our coal and nickel steel operations, he added.
Copyright (c) 2025 CercleFinance.com. All rights reserved.