London Commodity Brokers is pleased to announce the opening of its office in Johannesburg today.
LCB's South African operation will be focused on developing and brokering domestic commodity markets in Rands. This will lead to greater access and price transparency, especially for the emerging BEE producers who have often been shut out of participating in international commodity markets.
Bevan Jones, General Manager South African Operations, said: "LCB has proved world-wide the value of an independent physical brokerage house. There are many opportunities currently for LCB's services in South Africa and much of what we will be doing will align with the South African Government's long term strategic planning for the commodities sector."
Clive Murray, Chief Executive Office, said: "The South African commodities sector is coming of age as a respected asset class. Although we expect many of our clients will continue to be our traditional physical producers and consumers, we also expect that financial players such as banks and hedge funds will make use of our services. LCB is seeking to replicate its successful coal broking business model for application to any suitable commodity. South Africa is a major commodity producer and it's time that local price beneficiation started to benefit the local players."
LCB is an independent over-the-counter broking house specialising in physical and derivatives broking of coal, iron ore, freight and other commodity markets. LCB has offices in London, Johannesburg, Dubai, Singapore, Hong Kong and Qingdao and has brokered over 200 million tons of coal since 2005.