Iron-rich volcanoes may hold vast rare earth reserves, study finds
Rare earth element concentrations could be nearly 200 times higher than those found in silicate-rich melts.
The man accused by Trafigura Group of being behind a $590 million nickel fraud finally responded to the allegations, claiming that Trafigura itself “devised and proposed” the scheme.
In a defence filed to the London court on Wednesday afternoon, lawyers for Prateek Gupta said that Trafigura employees had proposed an arrangement to agree contracts for the sale of nickel but in fact to trade other material.
Trafigura in February secured a freezing order against Gupta, alleging that his companies had sold it cargoes of nickel that turned out not to contain any of the metal.
(By Jack Farchy)
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