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.
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.
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(END) Dow Jones Newswires 02-05-161535ET Copyright (c) 2016 Dow Jones & Company, Inc.
Read more: http://www.nasdaq.com/article/six-members-resign-from-london-metal-exchange-20160205-00607#ixzz3zO3B7h4q
5 thoughts on “Six Members Resign From London Metal Exchange”
Six members hang themselves in front of Lun done metal exchange.
Yeahhhh…. I like that article title.
Awesome…. when do the burnings at the stake start with these fkers.
Yup, no “funny” business goin’ on there. There’s some rich bitches among that group, I know the Cargills ain’t worried about grocery money next week. Let me guess, their “house of cards” is about to tank the market and they do the “Teaberry shuffle” on the way out. They’ll leave their shareholders “holding the bag”, fly off to their private island, be privately pleasured by nude models feeding grapes and groping all over them and laugh all the way to the bank. “Hey Skipper, where’s Ginger and Mary Ann?” ” Who cares Gilligan? Where’s the professor?”
Why did 6 members resign from the London metals exchange?
Very simple: There’s no metal left to exchange.
Rats deserting the sinking ship.
Id like to take this time to resign from the London metals exchange also. I am here forth removing all consents implied or otherwise.
Whewe! glad I got out of that before I forgot.