Anglo American Stock News

Hong Kong-listed mining and metals company MMG accused EU antitrust regulators on Thursday of ignoring evidence that its ​bid for Anglo American's Brazilian nickel business would not divert ‌supplies from Europe to China.

British mining company Anglo American will likely shut down its Brazilian nickel operation if EU antitrust regulators block its sale to Hong Kong-listed mining and ​metals company MMG , its chief operating officer will warn regulators at a closed ‌hearing on Thursday, according to prepared comments obtained by Reuters.

Deutsche Bank has raised its targets on several UK-listed miners as stronger copper fundamentals point to a potential supply squeeze over the coming quarters. Anglo American PLC (LSE:AAL), the diversified mining group, remains rated 'buy', with the target price increased to 4,700p from 4,500p, making it one of the bank's preferred stocks in the sector.

China's antitrust regulator has asked Anglo American to commit ​to supply the country with a steady flow of copper concentrate as a condition for approving its proposed $54 billion ‌merger with Canada's Teck Resources , three people aware of the development said.

MMG was hit with an EU antitrust warning on Wednesday over its plan ​to buy Anglo American's Brazilian nickel business, as regulators said the ‌Hong Kong-listed mining and metals company may divert the supply away from Europe, hurting European stainless steel producers.

Copper prices hit a record high Tuesday due to concerns over potential U.S. tariffs and supply problems amid surging demand for AI data-center infrastructure.

EU regulators are preparing to warn Hong Kong-listed mining and metals company MMG over its plan to ​buy Anglo American's Brazilian nickel business because of competition concerns, three ‌people familiar with the matter said.

Diversified mining groups are shifting their capital allocation strategies toward copper expansion to secure higher market valuations, according to a research report from investment bank UBS. Analyst Daniel Major noted that major miners navigated their first-half financial results without severe guidance downgrades despite persistent cost inflation.