The LME denies the allegations.
London Mining Network, comprising green and human rights campaigners, is filing the "landmark" legal action at the High Court along with NGO grouping Global Legal Action Network, a statement said.
The pair "argue that, by enabling the global sale of 'dirty metals', the exchange is in breach of UK anti-money laundering and proceeds of crime legislation".
The statement added: "If successful, this case will force the LME to revisit the rules under which it lists metal for trading on its exchange.
"This in turn will force metal producers to adapt their mining practices if they want to keep being able to access this platform which is essential for them to reach customers and to sell their products."
The lawsuit highlights the LME's trade in metals from the Grasberg mine in Papua, eastern Indonesia, which has had "environmentally devastating" consequences and harmed "indigenous communities".
- 'Fight against destruction' -
West Papuan community leader Adolfina Kuum said the "case is about our fight against those who profit from the destruction of our people's rivers, our forests and way of life".
"Our communities are experiencing the life-threatening effects of mining, we have no choice but to take up this fight because if we remain silent who will speak for us?"
The lawsuit said forests and rivers were disappearing as a result of mining of "dirty metals".
It noted that "sedimentation resulting from toxic mining waste is causing widespread health problems for the community", also alleging that heavy metal pollution was causing "skin diseases and other health conditions" in the community.
The global mining industry faces regular criticism over its environmental and social impact.
"The environmental harms in West Papua highlighted in this case are symptomatic of a deeper systemic problem across the world," the statement said.
Global Legal Action Network said it had "identified similar problematic patterns with mining corporations operating in Brazil, Peru, Guinea and the Russian Federation to name only a few".
The LME said that it would rebutt what it describes as a "misconceived" lawsuit.
"Over and above its existing regulatory requirements, the LME's brand-listing requirements reflect the international consensus on best practice in respect of ethical and sustainability issues."
The exchange added it had "undertaken extensive discussion" with the industry regarding the inclusion of "further environmental requirements" in its listing regulations.
Call for Swiss 'super rich' tax to finance climate change fight
Geneva (AFP) Feb 8, 2024 -
Switzerland should impose a 'super rich' inheritance to finance efforts against climate change, young Socialists said on Thursday as they presented the signatures needed to put the issue to a popular vote.
The youth wing of Switzerland's Socialist Party (JS) said they had gathered more than 140,000 signatures on their "For the Future" initiative.
That initiative calls for a 50-percent inheritance tax on amounts of over 50 million Swiss francs ($57 million) to help fund an ecological transformation of the Swiss economy.
According to the group's calculation, such a tax would rake in around six billion Swiss francs annually, which they said could be used to renovate buildings, develop renewable energy sources and boost public transportation.
The large number of signatures gathered "shows that the population wants a coherent and socially equitable climate policy" JS vice president Melanie Rufi said in a statement.
Under Switzerland's famous direct democratic system, 100,000 signatures are needed to put virtually any issue to a popular vote.
While the validity of the signatures still needs to be checked, JS voiced confidence that the vast majority of them would be approved, leaving little doubt that Swiss voters would eventually get their say on the matter.
In a vote last June, Swiss voters overwhelmingly backed a new climate bill aimed at steering the wealthy Alpine nation towards carbon neutrality by 2050.
Mirjam Hostetmann, another JS vice president, insisted that more was required, pointing out in Thursday's statement that 2023 was the hottest year on record.
"The climate crisis is here, and it is obvious that immediate and vast action is needed."
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