PERTH (miningweekly.com) – Metals miner MMG has taken advantage of the strong increase in copper prices during the fourth quarter of 2016, hedging some 112 000 t of copper at a net price of $2.50/lb.
The company said this week that the decision to enter into the hedging was considered in the best interest of MMG, and was taken to provide additional certainty in relation to the company’s financial performance and cash flows for the 2016 financial year, following the increase in copper prices.
MMG has also flagged potential further hedging, saying that it will continue to monitor commodity prices.
Edited by: Creamer Media Reporter
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