8 July 2010, London: Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, announced today that Xstrata Copper has chosen to implement Brady's leading risk management technology at an enterprise level across Xstrata Copper's operations and projects.
Xstrata Copper operates mines, concentrators, smelters and refineries at various locations in Canada, Argentina, Peru, Chile and Australia. Copper mining also produces valuable by-products, primarily gold and silver.
Greg Bews, Project Manager - Global Commercial Project of Xstrata Copper, commenting on the new contract with Brady, said "For a number of years our business groups around the world have been using Brady for trading, risk management and hedging. We identified a strategic requirement to initiate an enterprise level of risk management and for a number of reasons we chose Brady. They exhibit a clear depth of knowledge of the complexities of commodity markets and, particularly, metals trading. We are confident that we will quickly see improved speed and efficiencies in our global risk management that will achieve long-term benefits for the group".
Gavin Lavelle, CEO of Brady Plc, said "Xstrata Copper is a massive global miner and we are proud to have them as clients for our trading and risk technology. However, this new deal has now elevated the relationship. Brady is now the critical technology at the core of Xstrata Copper's global risk management infrastructure and it is both a significant achievement and recognition of our industry-leading technology".
The enterprise use of Brady for risk management and hedging will include a fully integrated supply chain and risk management solution. The comprehensive range of features is capable of handling all stages of a transaction from front to back office and across derivatives, physicals including treasury, and regulatory requirements.
Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Notes to Editors
About Xstrata Copper
Xstrata Copper is the fourth largest global copper producer with attributable mined production in 2009 of 907,000 tonnes of copper in cathodes and concentrates. The company is also one of the world's largest producers of smelter and refined copper, including from third party materials.
Headquartered in Brisbane, Xstrata Copper is one of the commodity business units within the major global diversified mining group Xstrata plc. Its mining and metallurgical operations and development projects span eight countries: Argentina, Australia, Canada, Chile, Peru, the Philippines, Papua New Guinea and the USA, Its operations and projects are administered through a regional divisional management structure, which ensures that appropriate levels of critical decision making are taken close to the related businesses. It also has a recycling business (Xstrata Recycling) with plants in the United States and offices in Canada and Asia. www.xstratacopper.com
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the worldwide commodity markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for refined and unrefined metals, softs and energy. Brady has 25 years' expertise in the commodity markets with over 100 customers worldwide, including some of the largest financial institutions, producers and mining corporations which depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest miners, refiners and producers, trading companies, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members. For further information visit: www.bradyplc.com