MMG Resources: Acquisition of Anglo American Resources' Brazilian nickel business enters the second phase of review by the European Commission.

On November 5th, Minmetals Resources announced on the Hong Kong Stock Exchange that they are hereby providing an update on their announcement dated February 18, 2025 regarding the conditional acquisition of Anglo American's nickel business in Brazil. The completion of the acquisition is subject to the fulfillment or waiver of certain conditions. As all other conditions have been met, the European Commission has today announced that it will launch a Phase II merger investigation into the acquisition. The Phase II investigation will involve a detailed review of relevant information to ensure that the European Commission can confirm that the acquisition does not raise substantial competition concerns. Minmetals Resources will continue to cooperate with Anglo American and the European Commission to assist in the review process.