Originally Posted by headingout
Don't many of the precious metals mining companies sell some production forward? Why would their business model would be so different from big oil?
Many of the large oil companies have more refining and marketing capacity then they have production, so they are net buyers of crude. They might be natural buyers
of forward contracts, not sellers. It depends on production vs refining capacity.
I can't say what the integrated companies actually do, because I don't own any and so don't read their filings or listen to their webcasts. My guess would be that they are all different in how they approach this.