$500 million (around 2.8 billion reais, equal to nearly 2 million monthly minimum wages in Brazil). That is the value of a mining sale that, if blocked in Europe, could shut down mines in central Brazil and eliminate local jobs. Multinational Anglo American warned it will end its Brazilian nickel operations if the European Commission blocks the sale of its assets to Chinese-controlled miner MMG, according to Reuters.

The warning is set for a closed-door hearing in Brussels, where Anglo American Brazil chief operating officer Ruben Fernandes will defend the deal. Fernandes stated that MMG was the only credible buyer found during two years of trying to exit the nickel sector. If regulators block the transaction, the company will place its Barro Alto operations on care and maintenance as a step toward full closure.

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Understand: the European Union fears the acquisition could divert raw materials away from European stainless steel mills to Asian supply chains. Brussels considers nickel a critical mineral, essential for clean energy batteries and specialized alloys, and seeks to curb dependence on China.

Anglo American Brazil chief financial officer Cristina Morgan argued that MMG will continue serving European clients and adheres to international mining standards. Representatives from MMG are also attending the hearing before European antitrust officials, who regulate market competition across the bloc.