Cobre del Mayo announces new swap agreement and 2Q14 Production Preview Report
MEXICO CITY, July 10, 2014 /PRNewswire/ -- Cobre del Mayo announces a new swap agreement with Goldman Sachs International, whereby it fixed the effective price for 1,800 t per month of copper cathode from August 2014 to March 2015 at $7,130/t (approx. $3.23/lb). The agreement is cash settled and requires no margin. This swap is in addition to the previously announced transaction whereby 600t/month of copper cathode were swapped at $6,870 (approx. $3.11/lb) from July 2014 to June 2015.
Additionally, we have published our 2Q14 Production Preview Report in the Investor Section of our website (www.cobredelmayo.com ).
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SOURCE Cobre del Mayo SA de CV