Boliden hedges its silver production
Boliden hedges its silver production Boliden has hedged 70 percent of its planned mined silver production for 2004 at a price of USD 6.3250/oz. The motive for hedging part of the silver production is that the current price level, which is the highest for six years, is well above Boliden's planning prices. Since the beginning of 2004 the silver price has risen by 10.45 percent. During 2003, the price jumped by 24.6 percent. During the same year, Boliden's mines yielded 272.1 tonnes of silver. Boliden has already hedged part of its gold production for 2004 and 2005. Boliden's exposure to