Brady (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced today that Xstrata Copper has selected Brady to support the organisation's global risk management operations of both refined metals and concentrates for their Dubai operations.
Xstrata Copper is the world's fourth largest copper producer; Xstrata Copper's Dubai operation is a new unit within Xstrata Copper with a dual purpose. First, it will act as the global risk management centre for all Xstrata Copper business units. Second, it will act as a trading arm with both third parties and within the Xstrata Copper business unit for the physical business of both refined metals and concentrates.
"A key requirement of Xstrata Copper was to enhance our risk management performance and automate many of our processes to enable us to manage our risk more effectively," said Bruce Anderson, General Manager Commercial at Xstrata Copper. "We believe that the robust risk engine and other capabilities of the Brady solution will provide us with a solid platform as we continue to grow our business."
Gavin Lavelle, CEO of Brady comments: "We are delighted to be working with Xstrata Copper. It is a privilege to have been chosen once again as the provider of risk management software. In addition to this, Xstrata Copper becomes one of our first customers to evaluate our Concentrates Module thus validating our strategic decision to extend the functionality of Trinity to address this largely unmet market segment."