Six Members Resign From London Metal Exchange--Update
February 05 2016 - 4:02PM
Dow Jones News
By Ese Erheriene
Six companies, including the world's second-biggest iron ore
exporter, have all given up their membership of the London Metal
Exchange, the metals bourse said Friday.
Anglo-Australian mining powerhouse Rio Tinto Ltd. resigned as a
category five member of the LME effective immediately.
In an LME notice to members, no reason was given for the
decision. A spokeswoman declined to comment.
Category five membership is one of the lowest levels, ahead of
individual and honorary membership. Members have no trading rights,
except as clients, according to an online LME guide on
membership.
Europe's biggest metals exchange, which is owned by Hong Kong
Exchanges & Clearing Ltd., also approved the resignations of
Cargill International S.A., Nyrstar Budel BV, Enmetco LLC, Lonconex
Limited and MetAlliance LLP.
There are 48 category five members remaining, including Rio
Tinto rivals BHP Billiton Ltd and Glencore PLC.
Write to Ese Erheriene at ese.erheriene@wsj.com
(END) Dow Jones Newswires
February 05, 2016 15:47 ET (20:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Apr 2023 to Apr 2024