Anglo American announces that it has signed an agreement to sell its nickel business in Brazil to MMG Singapore Resources Pte, a wholly-owned subsidiary of the MMG group. According to Anglo American, the value could reach US$ 500 million. 

The agreement involves the company's two operational nickel assets in Goiás - Barro Alto and Codemin (Niquelândia) - and two more projects in the development phase (mineral exploration): Morro Sem Boné, in Mato Grosso, and Jacaré, in the state of Pará.

MMG's CEO, Cao Liang, said: “We are excited about the acquisition of Anglo American's nickel operation, which provides important diversification for our business and strengthens our presence in Latin America. MMG and Anglo American have a long history of close collaboration. We are excited to work together towards the conclusion of this agreement.” 

(Source: Brasil Mineral, on February 18)