# MMG Pushes Anglo American Nickel Deal Long Stop to December 31 as EU Opens Phase II Review

> MMG extended the long stop date on its up to $500 million purchase of Anglo American's Brazilian nickel business to December 31, 2026.

- Published: 2026-11-03T05:06:13+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-03/mmg-anglo-american-nickel-long-stop-extension
- Source: [The future of trading](https://capital.com/en-int/news/mmg-says-long-stop-date-with-anglo-american-extended-to)

## Key takeaways

- MMG extended the long stop date for its share purchase agreement with Anglo American to December 31, 2026.
- The European Commission moved its review of the deal to Phase II, with a completion date of December 21, 2026.
- MMG said it will keep working with Anglo American and the European Commission during the review.

[MMG](https://akta.pro/company-profiles/0003jhw/mmg) extended the long stop date for its share purchase agreement with Anglo American to December 31, 2026, as the European Commission moved its review of the deal to Phase II. [The future of trading](https://capital.com/en-int/news/mmg-says-long-stop-date-with-anglo-american-extended-to) reported the extension on November 3, 2026.

MMG is a Hong Kong-listed, state-backed global base metals miner operating six copper and zinc mines across Australia, the DRC, Peru and Botswana, according to [akta.pro company records](https://akta.pro/company-data). [Anglo American](https://akta.pro/company-profiles/00003ar/anglo-american) is the counterparty selling the Brazilian nickel business.

## MMG's Anglo American Nickel Deal Terms

The share purchase agreement covers MMG's acquisition of Anglo American's nickel business, with the long stop date now set at December 31, 2026. The European Commission extended its review to Phase II, with a completion date of December 21, 2026. MMG said it will continue working with Anglo American and the European Commission during the review.

MMG offered to guarantee ferronickel supply to EU stainless steel producers to address EU antitrust concerns over its $500 million bid for Anglo American's Brazilian nickel unit, [Reuters](https://akta.pro/news-signals) reported on October 23, 2026. Anglo American said on October 7, 2026 that it would appeal to the European Commission over the $500 million nickel sale to MMG, arguing it would not harm European stainless steel producers, and threatened to close the operation if the sale is blocked, citing MMG as the only credible buyer.

## MMG's Funding and Copper Output

MMG completed a US$1.6 billion capital raise in June 2026 through approximately 706 million new shares at HK$8.88 and US$800 million in zero-coupon convertible bonds due 2027, advised by Citi, BofA Securities and Morgan Stanley, according to akta.pro funding records. The same records show MMG agreed to acquire Anglo American's Brazilian nickel business for up to US$500 million, with the deal under EU antitrust review and the deadline previously extended to June 30, 2026. MMG reported record revenue of US$6.22 billion in 2025 and net profit of US$509 million, a 200% year-over-year increase, with total copper production of 506,899 tonnes, up 27%.

## MMG's Path to the EU Review

MMG said on October 23, 2026 that it submitted a proposal to the European Commission to address concerns about its acquisition of Anglo American's nickel business in Brazil, Folha reported. The European Commission was preparing a statement of objections against the planned acquisition, citing potential competition concerns, MINING.COM reported on September 8, 2026. MMG was offering long-term ferronickel supply guarantees to European customers to secure the acquisition, which had stalled amid EU competition concerns, Mining Weekly reported on September 16, 2026.

## December 21 EU Review Deadline

The European Commission's Phase II review is scheduled to complete by December 21, 2026, ahead of the December 31, 2026 long stop date for the share purchase agreement.

## Companies in this story

- [MMG company profile](https://akta.pro/company-profiles/0003jhw/mmg) · website: http://www.mmg.com
- [Anglo American company profile](https://akta.pro/company-profiles/00003ar/anglo-american) · website: http://www.angloamerican.com

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