The metal industry has speculated whether HKEX might sell either the LME or its clearing house, LME Clear, after a chaotic period last year.

Much of the zinc going on LME warrant was sold into the system by Trafigura and Glencore.

Chaarat will focus now on developing its two Kyrgyz assets, particularly the Tulkubash open pit gold project.

The LME benchmark three-month aluminum contract dropped to its lowest since July 7.

“Olserum is a scalable high value permanent magnet REE project that we believe has the potential to be Europe’s first REE mine,” EGM CEO says.

The company reported a first-half net profit of $551 million.