”

The European Steel Association (EUROFER) welcomes the European
Commission’s decision to issue a Statement of Objections against the MMG’s acquisition of Anglo
American’s Brazilian nickel operations, saying it safeguards competition, security of supply and
Europe’s industrial resilience.

Europe’s stainless-steel industry depends on reliable access to imported ferronickel to produce
high-quality, low-carbon steel. That trade, the Association argues, must remain open, fair and
consistent with Europe’s standards on sustainability, decarbonisation and social responsibility.

Axel Eggert, Director General of EUROFER, said: “Any transaction affecting strategic raw
materials should strengthen competition, security of supply and Europe’s industrial autonomy
not create new dependencies. We therefore welcome the European Commission’s decision to
take a clear stance for safeguarding independent and competitive access to a key raw material
for European stainless-steel production.”

Maintaining access to competitive, low-carbon ferronickel is essential if European producers are
to meet their decarbonisation obligations while continuing to invest and produce in Europe.
EUROFER has consistently warned that further concentration of strategic raw-material supply
could increase pricing power, reduce choice and distort market conditions to the long-term
disadvantage of European producers.

In the context of the Indonesian ban on Nickel exports resulting in Indonesia becoming the source
of circumvention of a majority of stainless imports into Europe, further consolidation of the nickel
supply chain in Brazil needs to be reviewed carefully.

EUROFER said any eventual outcome should have robust and lasting safeguards- structural,
governance and/or ownership-based, not merely contractual - that preserve direct, competitive
access to Anglo American’s Brazilian ferronickel production for European stainless-steel
producers and ensure that these assets continue to operate on market-oriented terms.

Eggert added: “Europe’s steel industry relies on international trade and will continue to do so.
But open trade must also be fair, resilient and competitive. Europe must preserve its ability to
source responsibly and avoid a situation in which any single country or supply chain can dominate
the global market.

Notes for editors

Contact
David French, Spokesperson and Head of Communications, +32 2 738 79 35, (d.french@eurofer.eu)

About the European Steel Association (EUROFER)
EUROFER AISBL is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union. EUROFER members are steel companies and national steel federations throughout the EU. The major steel companies and national steel federation of Turkey, Ukraine and the United Kingdom are associate members.

The European Steel Association is recorded in the EU transparency register: 93038071152-83.

About the European steel industry
The European steel industry is a world leader in innovation and environmental sustainability. It has a turnover of around €215 billion and directly employs around 298,000 highly-skilled people, producing on average 146 million tonnes of steel per year. More than 500 steel production sites across 22 EU Member States provide direct and indirect employment to millions more European citizens. Closely integrated with Europe’s manufacturing and construction industries, steel is the backbone for development, growth and employment in Europe.

Steel is the most versatile industrial material in the world. The thousands of different grades and types of steel developed by the industry make the modern world possible. Steel is 100% recyclable and therefore is a fundamental part of the circular economy. As a basic engineering material, steel is also an essential factor in the development and deployment of innovative, CO2-mitigating technologies, improving resource efficiency and fostering sustainable development in Europe.