Its my understanding that the banks providing the funding have a lot of sway in pushing a company to hedge their production. I don't believe the mining companies necessarily want them either, but if you are borrowing large sums the lender wants a bit of a guarantee with the potential to collect on the upside.
That's one good reason to have no debt, once the hedge runs out, you cant be bullied into locking in new hedges.
Ann: Quarterly Activities and Cashflow Report - March 2020, page-60
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