London exchange rejects bid to have ‘green’ nickel recognised

Washington | The London Metal Exchange has rejected a bid by the Australian government, with US support, to have the exchange recognise “clean” nickel, in efforts to help ailing Australian miners smashed by a supply glut from Chinese companies in Indonesia.

Last month, it was revealed that US Ambassador Kevin Rudd held talks with the White House, mining companies and US automakers about pushing global pricing agencies such as the LME into distinguishing between nickel produced under high environmental and labour standards in Australia and “dirty nickel” that has flooded the market.