Winnipeg Free Press: First Nickel sets up nickel and copper hedge facility

First Nickel Inc. (TSX:FNI) has finalized copper and nickel hedging contracts with two international banks that will help the miner begin operations again in northern Ontario, the Winnipeg Free Press reported:

“The Toronto miner said Monday it had completed forward sales arrangements for 15 million pounds of nickel, at an average contract price of US$10.37, and 12 million pounds of copper, at an average contract price of US$4.11. The hedging contracts are split equally between Societe Generale and Commonwealth Bank of Australia.”

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