PERTH (miningweekly.com) – Copper and gold miner Aeris Resources has entered into copper and gold hedging to take advantage of the current high commodity prices.
The company has hedged 3 000 t of copper at a price of A$13 254/t at 1 000 t a month from April to June this year.
Additional Australian dollar gold hedges have also been entered into for 5 478 oz of gold, with a hedge price of between A$2 819.91/oz and A$2 835.20/oz. Some 978 oz of gold will be delivered in March, and 1 500 oz a month between April and June.
“While we maintain a positive outlook on both copper and gold, we believe the current Australian dollar pricing for both commodities is attractive and have undertaken these hedges to help underpin our revenue base out to the end of the financial year,” said executive chairperson Andre Labuschagne.