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: âFor several 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, which will achieve long-term benefits for the group.â
Gavin Lavelle, CEO of Brady Plc, said: âXstrata Copper is a massive global miner and we are proud to have them as clients for our trading and risk technology: this new deal has elevated the relationship. Brady is now the critical technology at the core of Xstrata Copperâs global risk management infrastructure and it is both a significant achievement and recognition of our industry-leading technology.â
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.