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03 JULY 2018 AL CIRCLE

Metro Mining announces production results for June Quarter

EDITED BY : HEENA IQBAL 2MINS READ

Metro Mining has announced detailed production and shipping results for the June Quarter. The company’s Bauxite Hills Mine in Queensland has experienced a steady ramp-up and is approaching the budgeted operating rates and achieving consistent results on a daily basis.

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Image Source:Metro Mining

Metro Mining said June mining rates averaged 8,167 wet metric tonnes (WMT) per day and the trend in ship loading rates continue to rise with the last ship loading in 7.1 days.

Metro also announced its bauxite project is on track to meet production and shipping guidance of 1.965 – 2.075 WMT for the calendar year 2018.

Image Source: Metro Mining

Metro Mining’s Managing Director and Chief Executive Officer, Mr Simon Finnis, said: “While it was a challenging start to the quarter, I am extremely proud of how the site team and our contract partners responded to resolving issues as they arose.”

 “All aspects of the operation have finished the quarter performing strongly, and I Iook forward to the project reaching targeted operating rates during the September quarter”.

Last month, Metro Mining received an approval for a trading halt as it sets a target to raise US$17.5 million through a share placement priced at 20 cents. Funding from the placement is likely to boost Metro’s working capital position during production ramp-up and product sale negotiations while increasing balance sheet strength and flexibility.


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EDITED BY : HEENA IQBAL 2MINS READ

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