As copper producers from Freeport-McMoRan to BHP Billiton ponder what to do with the windfall from surging prices, First Quantum Minerals has no such dilemma.
Unlike most of its peers, First Quantum’s copper sales are fully hedged – at an expected average price of $2.37/lb for the second half of the year. That means it’s largely watching from the sidelines as the metal surges above $2.90/lb for the first time in more than two years.
