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German Companies to Build Raw Materials Reserve, Spiegel Says

German Chancellor Angela Merkel is helping 10 German companies build a reserve of raw materials, Der Spiegel reported, without citing anyone.

BASF SE, Daimler AG, Evonik Industries AG and ThyssenKrupp AG are part of a group of companies that support building the reserve, the magazine said. Each will contribute a six-digit euro amount.

Merkel has traveled to countries rich in raw materials, including Mongolia, Angola and Nigeria, to scout out potential sources, Der Spiegel said.

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