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MEI Online: General Minerals Engineering: Latest News: January 14th 2004

:: Xstrata Establishes Single Global Copper Business  

Xstrata plc announces the realignment of its two copper businesses with the management structure of the other commodity business across the Group. With immediate effect, Xstrata Copper Americas and Xstrata Copper Australia will be managed as a single global copper business: "Xstrata Copper".

Charlie Sartain, currently chief executive Xstrata Copper Americas, assumes the position of chief executive Xstrata Copper, based in Brisbane, and will be appointed to the Xstrata Group Executive Committee. John Gooding, currently chief executive of Xstrata Copper Australia, is leaving the Group for personal reasons.

Mick Davis, chief executive of Xstrata plc, commented: "The new structure creates a coherent business with an excellent base of operating assets and technical expertise encompassing the full spectrum of copper production processes and the two key copper mining areas of Australia and Latin America. Charlie Sartain and his team will pursue further initiatives to improve the operational performance of Xstrata Copper and to leverage this base to grow the business going forward.

"The reorganisation, which brings our copper business in line with the Xstrata business model, concludes the successful integration of the base metals assets and builds on the excellent progress made within the two separate entities over the last few months. John Gooding has played a significant role in this process, particularly through a challenging period of transition. On behalf of the Board, I thank him sincerely for his efforts and dedication."



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