By Alex MacDonald
LONDON--The London Metal Exchange said Tuesday it has approved
the creation of an LME User Committee to represent the interests
and views of the exchange's stakeholders.
The LME User Committee will report directly to the LME Board and
will include 14 members representing banks, brokers, traders and
producers. John Smillie, executive director at Xstrata Nickel
Marketing, a unit of Anglo-Swiss miner Xstrata PLC (XTA.LN), will
serve as chairman, while Gonzalo Caudra, the chief executive of the
London subsidiaries of Codelco, the world's largest copper
producer, Chile Copper Ltd. and Codelco Services Ltd., will serve
as vice chairman.
The committee also has representatives from JP Morgan &
Chase Co (JPM), Standard Bank Group Ltd (SBK.JO), China Minmetals
Non-Ferrous Metals Co., Natixis SA (NTXFY), Sucden Financial Ltd.,
and Aurubis AG (AIAGY), to name a few.
Write to Alex MacDonald at alex.macdonald@dowjones.com