Wednesday, 29 April 2009
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MMTA CONFERENCE - INTERVIEW
MMTA looks to broaden membership, eyes Far East - Chairman
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London, 29 April 2009 - The MMTA (Minor Metals Trade Association), which is very European in its make-up, seeks to further expand membership elsewhere, looking towards China and possibly India, new MMTA Chairman Guy Darby said on Wednesday.

"One strategic ambition is to globalise the assocation. We are weighted in Europe, but we have a growing membership in North America and we are going to be looking at China and possibly India," Darby told MinorMetals.com in an interview on the sidelines of the MMTA’s Minor Metals Conference here.

"We are identifying specific companies and they will be our 'eyes and ears' in those areas," he said.

In North America this function is already being carried out by MMTA member firm Hudson Metals Corporation. The MMTA is going to form a sub-commitee in North America to nurture its membership there.

"I see North America developing this year. Then China and possibly India will follow - the wheels are beginning to turn," Darby said.

This is part of the process of broadening the scope of the MMTA, which was formed in the early 1970s, and originally comprised just traders, trading companies and firms involved in inter-trade business - it was called the Minor Metals Traders Association back then.

"The complexion has changed dramatically - now it is producers, consumers, shippers and assayers of minor metals. We are a 'cradle-to-grave organisation now," he said.

TALKS WITH LME ONGOING, WAIT-AND-SEE ON COBALT/MOLYBDENUM FUTURES DEVELOPMENT

Darby added that ongoing discussions withy the LME (London Metal Exchange) are not linked to the exchange's launch of cobalt and molybdenum contracts, nor are they a precursor to a minor metals trading platform or merger of the two bodies.

"The discussions are non-cobalt and non-molybdenum related and they do not involve the possibility of a trading platform for any of the minor metals."

"Whilst the LME and MMTA have a lot of synergies in a lot of areas, we remain two independent organisations and will remain so," he said.

There have been concerns that the informal talks, which have been going on some months, will see the MMTA, a body representing the minor metals industry, being subsumed within the LME, the world’s largest non-ferrous metals market.

He declined to comment on the actual nature of the meetings and what areas were being discussed.

"I am hoping that, as we have been in discussions for a number of months, that the liason committee can report to the main (MMTA) committee on a possible way forward. I am hoping that this is going to happen next month," Darby added.

The introduction of cobalt and molybdenum on the LME, originally slated for the second half of this year, now seems more likely early in 2010, LME CEO Martin Abbott said on Tuesday. The LME is ready to go with contracts in line with its original schedule, but is dependent on clearing systems, which are provided by LCH.Clearnet who clear LME business, being in place.

Darby said it was too early to envisage how the contracts would fare - success will depend on liquidity and deliveries of metal into warehouses.

"I think we will see a slow start and then they will develop momentum."

INFORMAL EU STOCKPILE TALKS IN JUNE

Meanwhile, upcoming discussions with the EU on a minor metals stockpile are not legislative-based and are purely exploratory at present, he said.

The MMTA has been approached by the EU (European Union) to discuss the stockpiling of minor metals. On June 3, a MMTA delegation comprising Darby, previous chairman Charles Swindon and the association's Executive, Roland Chavasse, will meet in Brussels with a representative from the relevant EU body.

"This is purely an exploratory discussion, which will lead to no action at this stage. They have approached us for informal discussions regarding a critical raw materials stockpile."

"The membership is aware of what is happening and there is a lot of interest. We are going to report back as quick as we can," Darby added.

The MMTA is a UK-based industry body that is the world's largest assocation involved with minor metals. It groups traders, producers and consumers of minor metals and its membership comprises over 117 companies from 30 countries, accounting for $10-15 billion a year in minor metals trade.

Darby, who has some 30 years experience of the minor metals industry, was elected as Chairman at the MMTA's AGM on Tuesday. As MMTA Chairman he will serve in the role for three years.
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