LME takes aim at traders’ Russian metal games with new rules
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim at a lucrative and complex trading opportunity that emerged after the imposition of sanctions on Russian metal earlier this month.
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Visit: 45
Airbus wins reprieve from Canadian sanctions on Russian titanium
Canada has granted Airbus a waiver to allow it to use Russian titanium in its manufacturing after becoming the first Western government to ban supplies of the strategic metal in the latest package of measures triggered by the war in Ukraine.
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Visit: 53
Russian court orders Glencore to pay shares worth 114.8m euros in Sberbank lawsuit
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 billion roubles, or some 114.8 million euros, worth of shares in a lawsuit filed by Sberbank, according to the court.
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Visit: 60
LME bans Russian-origin metal after UK, US impose new sanctions
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply with new US and UK sanctions imposed for Russia’s invasion of Ukraine.
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Visit: 81
Russian diamond ban creates costly delays, Antwerp diamond dealers say
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on March 1 and has slowed imports, they say in a letter seen by Reuters.
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Visit: 100
Polymetal shareholders approve sale of Russian assets
Shareholders of precious metals producer Polymetal International approved the sale of its Russian assets to a Siberian gold miner, the company said on Thursday.
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Visit: 97
New US sanctions more likely to curb Indian imports of Russian coal
New US sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said.
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Visit: 92
Aluminum price jumps after report EU may sanction Russian metal
Aluminum rallied in London after Politico reported that the European Union is considering sanctions on Russian aluminum ahead of the second anniversary of the invasion of Ukraine.
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Visit: 108
Share of Russian aluminum in LME warehouses rises to 90% after UK curbs
Mining News Pro - The share of available aluminum stocks of Russian origin in London Metal Exchange-approved (LME) warehouses rose to 90.4% in December from 78.8% in November, data on the exchange’s website showed on Wednesday.
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Visit: 92
India urges G7 to delay ban on Russian diamonds as rules lack clarity
Mining News Pro - India has urged the Group of Seven (G7) countries to delay an incoming ban on Russian diamonds because the rules to trace the origins of gems remain unclear, two sources aware of the matter said.
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Visit: 117
LME faces fresh worries about Russian metal after UK sanctions
Mining News Pro - New UK sanctions on Russian metals have caused confusion among traders and raised fresh worries that the London Metal Exchange could be overwhelmed by a glut of unwanted Russian aluminum.
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Visit: 137
US sanctions Russian metals magnate Sviblov and gold, zinc firms
Mining News Pro - The US imposed sanctions on Russian mining magnate Vladislav Sviblov and several mining companies connected to him, including one that’s developing one of the world’s largest zinc mines.
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Visit: 122
EU Commission proposes Russian diamond ban
Mining News Pro - The European Commission has proposed a ban on imports of diamonds and liquid petroleum gas from Russia and also to tighten implementation of a price cap on Russian oil as part of new sanctions against Moscow, EU diplomats said on Wednesday.
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Visit: 141
G7 announcement on Russian diamond ban expected by end of month
Mining News Pro - A G7 statement announcing a ban on imports of Russian diamonds is expected by the end of this month, followed closely by a proposal for the European Union’s 12th package of sanctions on Russia, diplomatic sources said.
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Visit: 123
Mixed fortunes for Russian metal at mid-point of aluminum mating season
Mining News Pro - Midway through the aluminum market’s so-called mating season of end-users and sellers locking in supply deals, Russian metal is experiencing mixed fortunes, with some European industrial companies avoiding it for 2024.
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Visit: 131
Polymetal to sell Russian business in one piece
Mining News Pro - Gold and silver producer Polymetal International plans to sell all of its Russian assets rather than split them up, and will hire an adviser for the deal soon, chief executive Vitaly Nesis said on Thursday.
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Visit: 193
G7 to launch Russian diamond ban in bid to curb revenues, Belgium says
Mining News Pro - The Group of Seven (G7) countries is expected to announce an import ban on Russian diamonds in the next 2-3 weeks, Belgian officials told reporters on Friday, in a bid to tighten a squeeze on Russia’s capacity to finance the war in Ukraine.
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Visit: 170
The race to ditch Russian uranium starts in New Mexico’s desert
Mining News Pro - In a remote, dusty corner of New Mexico, so near to the Texas border that if you wander too close your smartphone changes time zones, sits a pristine factory that is the best chance for the US to wean itself off an addiction that few knew it had: uranium enriched in Russia.
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Visit: 241
Citi buys $160 million of Russian aluminum others won’t touch
Mining News Pro - Citigroup Inc. has bought about $160 million of Russian aluminum from the London Metal Exchange, something many banks have refused to touch since the invasion of Ukraine.
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Visit: 530
Polymetal plans to sell Russian assets under sanctions in 6-9 months
Mining News Pro - Gold and silver producer Polymetal International, which had planned to separate its Russian and Kazakh businesses, now intends to sell assets in Russia under US sanctions within six to nine months, CEO Vitaly Nesis said on Wednesday.
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Visit: 197
Hydro says Russian metal threatens LME benchmark, Rusal hits back
Mining News Pro - The London Metal Exchange should reconsider a decision not to ban Russian aluminum from its warehouse network as large volumes are jeopardizing the benchmark status of its contract, producer Norsk Hydro said in a letter this week.
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Visit: 226
Polymetal considers divestment of Russian business
Mining News Pro - Gold and silver producer Polymetal International is considering divesting its Russian operations and senior managers have resigned from Russia-related duties after the imposition of US sanctions, the company said on Monday.
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Visit: 163
Glencore adds Russian aluminum to LME system
Mining News Pro - Commodity trader Glencore has deposited more Russian aluminum in warehouses approved by the London Metal Exchange (LME) in the South Korean port of Gwangyang, one source with knowledge of the matter told Reuters.
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Visit: 212
LME halts flow of Russian metals into its US warehouses
Mining News Pro - The London Metal Exchange (LME) said on Tuesday it has suspended the inflow of Russian base metals into its US registered warehouses due to the planned imposition of tariffs on Russian metal by the United States.
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Visit: 247
US tariffs on Russian aluminum risk more market fracture
Mining News Pro - The political fracturing of the aluminum market looks set to intensify as the United States mulls imposing penal tariffs of up to 200% on imports of Russian metal.
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Visit: 232