Deal: An Anglo American has taken another big step towards simplifying its business after agreeing to offload its nickel division for up to $500million.
Anglo's nickel arm includes the Barro Alto and Codemin ferronickel processing plants in Brazil, which produced 39,400 tonnes of nickel last year, as well as the Jacaré and Morro Sem Boné greenfield growth projects.
Anglo American has taken another step towards simplifying its business after agreeing to offload its nickel division for up to $500million.
Cao Liang, chief executive of MMG, said the acquisition of Anglo's nickel segment 'provides important diversification for our business and strengthens our presence in Latin America'.
Duncan Wanblad, chief executive of Anglo American, said: 'Anglo American's portfolio focus, exceptional asset quality and growth options offer a differentiated investment proposition for investors.
