Mining companies vulnerable on lack of hedging programmes

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A large number of silver and gold mining companies do not have a hedging programme to protect them against a possible plummet in prices, due to fears that exploration, development and production could be hindered by costly hedge books, as well as believing the prices will stay high.

"I am not a great supporter of hedging programmes," says Jim Williams, chief executive officer of Arian Silver, a silver exploration, development and production company with a focus on projects in the silver belt of

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