Anglo American Targets Deal for Brazil Nickel Mines in 1H 202517 January 2025
Anglo American Plc’s top boss in Brazil expects to sell its nickel assets in the country in the first half of 2025 as part of a massive restructuring triggered by an unsolicited $49 billion takeover bid from rival BHP Group last year.
Barro Alto and Niquelandia mines, in the Brazilian Midwest, have attracted interest of bidders from “different nationalities and backgrounds,” said Ana Sanches, Anglo’s Chief Executive Officer in Brazil, in an interview Wednesday. Negotiations are being held in London and Standard Chartered Plc is the company’s financial adviser, she added. Consultancy firm KPMG is also involved in the process.
“We already have a number of companies closer to the final stages of negotiation. We’re expecting a conclusion in the next few months,” Sanches said. The company has not said what it will do with the assets if the sale does not go through.
On a Nov. 26 report Berenberg equity research team estimated a net asset value of $331 million for the mines. “Getting a good price will be difficult, we think, given a weak nickel price,” the bank analysts wrote in a note.
https://www.bloomberg.com/news/articles/2025-01-16/anglo-american-targets-deal-for-brazil-nickel-mines-in-1h-2025?embedded-checkout=true___________________________
Ash here.
$US330m is an easy number for S32. Buying Barro Alta and Niquelandia would double S32's Ni output.
I might be blowing smoke. Sure. The mines may be garbage, I don't know. The Chinese might bid a silly price.
Yet I will wager S32 is one of the bidders.
Ash
(20min delay)