The idea of MATSA shutting down is a complete furphy. MATSA is located in Spain, not Germany.
The majority of Spanish gas is sourced from Algeria.
Spain has also made considerable progress in carbon free electricity generation. The 2 largest sources of electricity in Spain are Wind and Nuclear.
As part of the banking finance agreement SFR has hedged about 40% of the MATSA copper production and 35% of the MATSA Zinc production over the next 3 years. However, as you correctly noted, this will not have a significant impact while De Grussa is still producing. In Q2 FY22 there will be about 30kT from De Grussa and 27kT from MATSA for a total of 57kT copper. Only about 10.8kT is hedged at $4.17/lb, so in this half year SFR has 81% exposure to the copper market price.
The idea of MATSA shutting down is a complete furphy. MATSA is...
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Last
$9.08 |
Change
0.010(0.11%) |
Mkt cap ! $4.152B | |||
| Open | High | Low | Value | Volume |
| $9.09 | $9.24 | $9.07 | $11.54M | 1.265M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6482 | $9.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.08 | 85682 | 5 |
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| SFR (ASX) Chart |