Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and softs sectors, is pleased to announce that Xstrata Copper Australia has signed a contract with Brady as part of Xstrata Copper's continuing extension to the global rollout of Brady's trading and risk management solution, following the implementations in Chile, Peru, Dubai and Argentina.
This implementation will be used for Xstrata Australia's copper mining operations and will include an interface into global centralised risk management as per the enterprise-wide risk management deal signed with Brady in 2010.
Greg Bews, Project Manager - Global Commercial Project of Xstrata Commodities, said, "This implementation follows the previous implementations for Xstrata Copper in the Middle East and South America and we are pleased to extend the rollout of the Brady solution. We anticipate immediate benefits of having more of our operations using centralised risk management. Brady will enable us to have a unified approach across many of our operations and, at the same time, tightly manage our risk potential with maximum efficiency."
Gavin Lavelle, CEO of Brady, commented: "We are delighted that Xstrata Australia has now signed for our solution. This is another contract for Brady in Australia and is in line with our ambitious APAC growth strategy. Trading and managing risk in the metals markets is highly specialised; this underlines the requirement for solutions which are tailored specifically for these markets, and is the reason so many of the world's largest mining and trading companies choose Brady. It is a market we have focused on for many years and our clients understand and value the unique functionality and benefits which our solutions provide."
Xstrata Copper is the 4th largest copper producer in the world and operates mines, concentrators, smelters and refineries at various locations across Australia, Canada, Argentina, Peru and Chile.