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London Metal Exchange Faces Legal Action
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London Metal Exchange (LME) is being sued over allegations of facilitating the global sale of 'dirty metals', violating anti-money laundering and proceeds of crime legislation. The legal action targets the Grasberg Mine in West Papua, Indonesia, associated with violence, environmental destruction, and toxic waste pollution. The lawsuit's potential impact on the LME's rules for listing metal and its broader implications for global mining practices and supply chains present significant implications.
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How might this legal action impact the reputation and credibility of the London Metal Exchange?
What are the broader implications of this legal action for the international mining industry and its governance?
What measures can the LME take to ensure compliance with anti-money laundering and proceeds of crime legislation in the global metal trade?
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