Trafigura rattles zinc market with huge order for LME metal
Orders to withdraw zinc from warehouses overseen by the exchange have surged by 97,225 tons over the past two days.
Leading managers at French metals and mining group Eramet have agreed to pay cuts, in order to help finance a solidarity plan for staff and communities hit by the coronavirus crisis, the company said on Thursday.
Eramet said its chairman and CEO Christel Bories would forego 25% of her pay and would contribute money saved from that to the company’s solidarity plan.
Recently the company decided to stop work on a lithium production project in Argentina, aimed at shifting the group’s focus towards electric vehicle minerals, due to economic uncertainty created by a coronavirus epidemic.
(By Sudip Kar-Gupta; Editing by Susan Fenton)
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