02.03.2009 - Miners hedge bets as metal prices fall

From WSJ: A handful of miners are locking in metal prices by hedging their production, a sharp departure for an industry that had only recently sought as much exposure as possible to commodity prices. Most miners abandoned forward sales of metals in recent years, and many worked to unwind hedge books. That was largely because of pressure from investors, who bought the shares, particularly those of precious metals companies, as a proxy for the underlying commodity..... Full Article: Source

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