9 December 2009, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced today that one of the world's leading copper producers, Xstrata Copper, has completed the next phase in their enterprise-wide rollout of Brady's Raw Materials Module, with the signing of new contracts for its operations in Chile and Peru. This will take the mining giant another step closer to being one of the first clients to implement Brady's class leading technology on such a worldwide scale. By having Brady's modular technology as an integral part of its core infrastructure, Xstrata expects to achieve both immediate and long-term business benefits; specifically, improved global risk management, and delivery processes and increased control and audit facilities.
Bruce Anderson, general manager of Xstrata Commodities Middle East DMCC, commented on the deal: "We already use Brady for operational hedge activities across divisions and this implementation will provide Xstrata with a more cohesive and strategic focus on trading, hedging, mark-to-market and risk management at global, regional and local levels. Brady's comprehensive capture and tracking of trades will streamline the administration of the often complex delivery and payment terms involved in metals trading."
Gavin Lavelle, CEO of Brady plc, said: "Xstrata's continuing enterprise-wide rollout of our new Raw Materials Module is a significant deal for us. Clients using the Module are getting a fast ROI and quickly see the business benefits of improved trading, risk management and hedging capabilities and greater efficiencies in the administration and management of production, processing and delivery. The Brady and Xstrata implementation teams are working collaboratively to provide an effective global delivery."
Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Editorial contact for Xstrata Copper
Emily Russell
Corporate Communications Manager
Tel: +44 (0) 1865 510 918
erussell@xstratacopper.com
Notes to Editors
About Xstrata Copper
Headquartered in Brisbane, Xstrata Copper is one of the commodity business units within the major global diversified mining group Xstrata plc. Its operations and projects span eight countries: Australia, Argentina, Chile, Peru, Canada, the USA, the Philippines and Papua New Guinea. Its operations are administered by five separate divisions, based close to the mining operations, namely the North Queensland, Minera Alumbrera, North Chile, Southern Peru and Canada divisions. It also has a recycling business (Xstrata Recycling) with plants in the United States and offices in Canada and Asia.
Xstrata Copper is the fourth largest global copper producer with attributable mined production in 2008 of 952,000 tonnes of copper in cathodes and concentrates. The company is also the world's second and third largest producer of smelter and refined copper production respectively, including from third party materials. For further information visit: www.xstrata.com
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity markets. On a single platform 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. Brady has more than 20 years of expertise in the commodity markets with 56 customers worldwide, including some of the largest financial institutions and mining corporations that 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, 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