Asarco sign up for Brady's commercial, trading and risk solution

17 September 2008

Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today announced that ASARCO, the fully integrated miner, smelter and refiner of copper and other metals based in the United States, has chosen Brady as its new commercial, trading and risk management technology provider.

Brady’s integrated solution set, with its Concentrates module, will provide complete straight-through processing (STP) and will include contract capture, confirmations, position keeping, P&L, risk management and reporting as well as back office support for ASARCO’s copper concentrates and refined metals business; it will also provide support for the associated gold and silver by-products.

“We are taking the long-term view with Brady,” says John George, Vice President, Administration of ASARCO, “We chose Brady because its software solution set satisfies all our current and future requirements; I can also foresee ASARCO integrating Brady with other areas of the business such as our traffic or inventory systems. Brady has enough flexibility and breadth to enable us to extend its usage.”

With four mines in Arizona and a refinery in Texas ASARCO’s key requirement was to find and implement a specialist commodity software solution that would enable it to manage and measure its risk effectively both for physicals - metal and concentrates - and for financial trades, including copper, gold and silver products. In assessing the systems available on the market ASARCO found that Brady’s software solutions were the most suitable and aligned most closely with its business strategy.

Says Gavin Lavelle, CEO of Brady: “We launched our Concentrates module with producers clearly in mind. This enables them to manage both the refined and unrefined materials through the same solution to give a consolidated raw materials and refined metals book. We are delighted that ASARCO has chosen our refined and concentrates application as a core part of an end-to-end solution and demonstrates that we have a successful product that fills an important strategic position in the metals and mining industries.”

Gary Miller, Commercial Vice President at ASARCO, comments: “As our business grows and develops we felt that we needed an integrated supply chain management (SCM) and risk management system that would cover the whole mine-to-market cycle. Brady gives us the tools to handle all the trading and risk management aspects for our concentrates, refined metals, by-products and derivatives.”

Brady is designed for efficient transaction automation and STP; it helps to reduce input errors and eliminates the need for duplicated data capture. Brady’s Oracle-based platform is a powerful relational database which, combined with Brady’s query tools, provides fast and efficient management reporting.

The latest deal with ASARCO means that Brady now counts three of the largest global copper producers as its clients.

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