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The Sumitomo copper scandal will probably lead to changes in the way the London Metal Exchange (LME) does business, according to a chief executive officer (CEO) of a major copper company.
Douglas C. Yearley, chairman, president and CEO of Phelps Dodge, said that market transparency at LME "is in question" due to the Sumitomo affair. He was part of a panel of speakers at press conference held during the National Mining Association's (NMA) MINExpo '96 International held in Las Vegas, NV in September.
Yearley was joined in the press conference by Irl Engelhardt, NMA chairman and chairman and CEO of Peabody Holding; Glen Barton, chairman of MINExpo and group president of Caterpillar; Richard de J. Osborne, chairman, president and CEO of Asarco and Richard L. Lawson, president of NMA. (For more coverage of...