Copper, and increasingly lithium and other battery materials, dominate the region's metals economies. Producer revenue prices off LME benchmarks with treatment and refining charges, freight and quality differentials layered between the mine and the customer. When prices move, the difference between a hedged and unhedged year can determine capital programmes, lender covenants and community commitments alike.

Producer hedging brings specific challenges: long-dated exposure, covenant and lender constraints, local accounting treatment of derivatives, and boards that need explainable reporting in both volumetric and financial terms. We have designed producer hedge programmes that withstand exactly that scrutiny, and we align the hedge strategy with the reality of offtake contracts and expansion plans.