China-backed miner MMG is confident of winning European approval for a $500mn deal to buy Anglo American’s nickel assets, despite concerns about Beijing’s dominance of critical mineral supply chains.
Troy Hey, MMG ’s executive general manager of corporate relations, confirmed that European antitrust regulators had expressed reservations about the group’s Chinese majority ownership.
But he said the company was “confident” it would get EU approval, given that it did not at present operate in the ferronickel market or in Brazil, where the Anglo nickel assets are located. Europe is a major market for the business being acquired by MMG.
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