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 couldn't be reached for 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 15:35 ET (20:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
BHP (NYSE:BBL)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more BHP Charts.
BHP (NYSE:BBL)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more BHP Charts.