Chinese mining company MMG Limited has signed a Share Purchase Agreement with Anglo American to acquire its Brazilian nickel operations, known as Nickel Brazil. This move marks a significant step in MMG's global expansion strategy.

The deal includes two key assets, Barro Alto and Codemin, which together produce approximately 40,000 tons of nickel in ferronickel annually. It is MMG’s first investment in Brazil and adds a primary nickel mine to its portfolio.

Brazil is a resource-rich and mining-friendly jurisdiction, making it an attractive investment destination. MMG aims to strengthen its earnings and diversify its base metal commodities, particularly battery-grade nickel. The acquisition comes at a low point in the nickel price cycle, offering potential for future growth.

This acquisition reinforces MMG’s presence in Latin America, and the completion is expected by the third quarter of 2025.