Top 10 metals trader MRI hires new head of concentrates

CWT International

03/01/2024 14:54

By Julian Luk
       LONDON, Jan 3 (Reuters) - MRI Trading, a top 10 metals
trader, has hired Antoine Carassus as head of its copper, zinc
and lead concentrate book, the Swiss-based company's Chief
Executive Markus Nunnenmacher told Reuters on Wednesday.
        MRI is a major player in sourcing and blending physical
ores and concentrates. The Chinese-owned trader buys and sells
more than 1 million tonnes of copper concentrates, and around
500,000 tonnes of zinc and lead concentrates annually, according
to two people with direct knowledge. 
    Carassus who left Geneva-based Transamine Trading last year
after 13 years, will take over from Rohit Saxena, Nunnenmacher
said, declining to comment on the size of MRI's concentrate book
and the effective date for Carassus' appointment.
    The sources said Carassus started at MRI on Wednesday.
    Saxena leaves MRI after 16 years with the company owned by
warehouse and logistics firm CWT International  0521.HK .
    Nunnenmacher said MRI has also appointed Singapore-based
trader Bill Shi as chief operating officer. 
    Sourcing ores and concentrates has become challenging due to
a lack of investment in new mines and disrupted operations. 
 

 (Reporting by Julian Luk
Editing by Tomasz Janowski)
 ((julian.luk@thomsonreuters.com; Reuters Messaging:
julian.luk.thomsonreuters.com@reuters.net))