Open Mineral Digitizes Physical Commodity Trading

Newly launched cloud-based marketplace will connect buyers and sellers to trade physical commodities directly, efficiently and transparently BAAR, Switzerland, July 5, 2017 /PRNewswire/ — Open Mineral, a new platform that connects buyers and sellers of physical commodities, launched today with the aim of revolutionizing the trading of commodities by providing an intuitive interface to tender, negotiate, and execute contracts. With powerful analytical tools, Open Mineral streamlines contract negotiations and execution to increase efficiency and profitability for the participants. The Swiss-based start-up, founded by former Glencore traders, strives to disrupt the decades-old model for trading physical commodities through use of technology and analytics. The company will initially cover zinc, lead, copper, gold and silver concentrate markets and plans to expand to other raw materials in the future. “Physical commodities have been traded in the same way by the same companies for decades,” said Boris Eykher, Open Mineral CEO. “We see technology delivering tangible benefits to the mining industry. Just as Ebay and Amazon revolutionized retail purchasing by bringing buyers and sellers together directly, we aim to do the same for the physical commodity producers. The goal is to give more information and control to mines and smelters, so they can make

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Source: CTRM Center

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