Mining and Metals Online Procurement Marketplace Launches Website.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 28, 2000 The global online procurement marketplace recently formed by 14 mining, minerals, and metals companies today launched its website (http://www.mmprocurement.com). The website enables visitors to access information about the benefits of participating in the marketplace as a buyer or a supplier, provides answers to frequently asked questions, and allows interested visitors to submit comments and ask questions online. In addition to English, portions of the website can be viewed in French, Portuguese and Spanish. Tracy A. Stevenson, interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the procurement marketplace, said "Since we announced the marketplace in May, we have received hundreds of inquiries from buyers and suppliers in the mining, minerals, and metals industry who have signaled their early interest in participating. Our website will allow visitors worldwide to learn more about the future capabilities of the marketplace and allows buyers and suppliers to easily access information about this exciting venture. This is the first of many upcoming communications to potential buyer and supplier participants." Announced on May 14, the venture will create a platform to bring together mining, minerals, and metals producers and suppliers in more than 100 countries and will provided unrivaled access to procurement sources worldwide. It is anticipated that the expansive, open and neutral platform will transform the procurement practices of the mining, minerals and metals industry and bring significant benefits to both suppliers and buyers through standardization, transparency, streamlined transaction processes and improved inventory management. The new virtual marketplace will utilize a common catalogue of products in multiple languages and will allow participants, regardless of size and location, to access and trade with a large pool of suppliers both locally and around the world. Participation in the marketplace is open to all buyers and suppliers and transactions are expected to commence by late 2000. The equity participants of the mining and metals procurement marketplace are Alcan Aluminium Limited, Alcoa Inc., Anglo American plc Anglo American plc (LSE: AAL, JSE: ANGLO) is a world-wide group of companies, originally founded in South Africa as a mining enterprise but now extending into other areas. Natural resources remains the focus of its operations. , Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corp, The Broken Hill Proprietary Company Limited (BHP), Corporacion Nacional del Cobre de Chile (CODELCO CODELCO Corporacion Del Cobre-Chile ), Companhia Vale do Rio Doce Summary Companhia Vale do Rio Doce (CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. (CVRD CVRD Companhia Vale do Rio Doce (Brazilian mining company) CVRD Cowichan Valley Regional District (Vacouver Island, British Columbia, Canada) CVRD Converter, Variable Resistance, to DC Voltage ), De Beers Consolidated Mines Ltd., Inco Ltd., Newmont Mining Newmont Mining Corporation NYSE: NEM, based in Denver, Colorado, USA, is one of the world's largest producers of gold, with active mines in, Nevada, Indonesia, Australia/New Zealand, Ghana, and Peru. Some smaller operations include Bolivia, Mexico, and Canada. Corporation, Noranda Inc., Phelps Dodge Corporation, Rio Tinto, and WMC WMC Winter Music Conference WMC Weill Medical College (Cornell University) WMC Wisconsin Manufacturers and Commerce (Madison, WI) WMC Westchester Medical Center WMC Western Mining Corporation Limited. Andersen Consulting is serving as the solution provider to the marketplace during the design, build and launch phase. The mining and metals companies represent in excess of 60 percent of the market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of the global mining and metals industry and are among the world's largest producers of aluminum, coal, copper, gold, iron ore, manganese, nickel, silver, zinc, industrial minerals and platinum group metals. Additional mining and metals companies are expected to participate in the marketplace. In 1999, the estimated procurement spending of the industry was approximately US$200 billion. |
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