Polyus Gold Gets Price Hedging Agreements Through June 2018
This article is for subscribers only.
Polyus Gold International Ltd., Russia’s largest producer of the metal, agreed to forward contracts and hedging deals to sell 2.83 million ounces of gold by the end of June 2018, helping it cope with swings in prices.
The producer will use zero-cost collars on Asian gold as a revenue stabilizer and gold forward contracts in two tranches, it said today in a regulatory filing. The first tranche of the program will be held from April 2014 through March 30, 2018, and the second will be from July 1, 2014, through June 29, 2018.