Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Deutsche Bank is winding down its physical precious metals trading business, it said on Thursday, moving to further scale back its exposure to commodities.
The closure of the business will result in the loss of fewer than five positions in London, a spokesman said.
"Certain parts of the physical precious metals trading operations may be re-housed within other divisions of Deutsche Bank and we will address this over the coming months," the bank said in a statement.
The decision to close down the physical precious metals business comes after Deutsche Bank shut its other physical commodities business, covering energy, agriculture, base metals and dry bulk, in December 2013.
The bank will retain some precious metals capability though its financial derivatives business, it said.
via UPDATE 1-Deutsche Bank shuts down physical precious metals trading | Reuters.
