
Metro Mining reported production and shipping results for September quarter 2020. The company produced 1.062 million wet metric tonnes (WMT) of bauxite in September quarter, down from 1.419 million tonnes in June quarter. The year-to-date production came in at 2.481 million tonnes.
The shipments were 1.230 million tonnes in September quarter, bringing total shipments for the year to 2.481 million tonnes.
“Metro continued to successfully operate within the established Policies and Procedures in response to COVID-19 at Corporate Offices and the Bauxite Hills Mine, with zero cases recorded,” the company said.
“The Mine’s operational results during 2020 demonstrate that, with the existing plant and equipment, the Bauxite Hills Mine can easily operate at a 4Mtpa rate.”
The company’s sales revenue (gross) stood at A$61.9M, generating site EBITDA of A$9.5M.
Metro’s cash on hand and other receivables was $45.8Million as at 30 September 2020.
“Metro’s Stage 2 Expansion remains the core strategy for the long-term development of Bauxite Hills. Timing for the formal commitment to Stage 2 remains influenced by general uncertainty over the outlook for global growth due to the impact of COVID-19.”
The completion of the Stage 2 is not expected to occur until 2022 at the earliest.
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