"Pressure groups sue LME for allowing trade of 'polluting' Indonesian metal," 08 Feb 2024

Two pressure groups have filed a legal action against the London Metal Exchange (LME) for allowing the sale on its platform of metal produced in Indonesia that they allege is polluting local rivers used by indigenous communities...

The London Mining Network (LMN) and the Global Legal Action Network (GLAN) said... papers have been filed in London's High Court asking for a judicial review.

They say the LME is breaching British anti-money laundering and proceeds of crime legislation...

"The LME believes that the claim filed by the London Mining Network and the Global Legal Action Network is misconceived and intends to resist that claim," the exchange said in response to a request for comment.

The LME requires companies that trade on the exchange... to undergo audits for sustainability.

The... LME is in the process of suspending or delisting 10% of its metals brands until their producers provide it with responsible sourcing information, which includes requirements for environmental management. ...

The court action will allege mining waste is being dumped from the giant Grasberg copper mine in West Papua Indonesia owned by Indonesia's state mining company and U.S.-listed Freeport McMoRan...