Goldman cancels Iranian aluminum warrants

Jun 01, 2012 | 08:32 AM |

LONDON — Goldman Sachs Group Inc. has canceled warrants for material from Iranian Aluminium Co. (Iralco) using a special U.S. government exemption, sources in the aluminum market told AMM sister publication Metal Bulletin.

Goldman Sachs declined to comment, but sources said Goldman has an exemption from the U.S. government that enables it to overstep prohibitions in place on U.S. companies dealing with Iran and handle the material.

"Goldman Sachs canceled a large volume of Iralco material in Pacorini’s warehouses in Johor," a source at a brokerage said. "They’re due to take delivery in a couple of months." ....

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