Hong Kong-listed mining company MMG will revise its proposed commitments to secure EU competition approval for its acquisition of Anglo American’s Brazilian nickel operations for 500 million dollars. Reuters reports this, having seen a statement.
According to a source with knowledge of the discussions, the changes include larger ferronickel deliveries to Europe as well as improved contractual guarantees and more flexible pricing.
The European Commission has expressed concern that MMG could divert deliveries from Europe to China, which could harm European stainless steel manufacturers.
Chinese state-owned Minmetals owns 67 percent of MMG.
