Metro’s first two bauxite shipments successfully arrive in China

Metro Mining happily announced a successful arrival of its first two shipments 123kt bauxite in China and confirmed the receipt of payment from off-take partner Xinfa Group. Xinfa Group, which has a 4-year off-take agreement with Metro, was responsible for handling the delivery of the shipment from the Bauxite Hills mine in Queensland to Shandong in China.

With the first successful shipment, Metro is reportedly experiencing an increasing buying interest for bauxite from its Bauxite Hills mine in Queensland.

Metro’s managing director and CEO Simon Finnis said, “Receiving first sales revenue is another exciting milestone for Metro and heralds in a new era for us. I’m pleased with our ramp-up and the improvement in mining and loading rates from pit to ship as the commissioning issues are steadily resolved.”

He also commented, “I am very happy to see Xinfa receive our first shipment and would like to acknowledge the Xinfa Group for their sustained and dedicated commitment to bringing Bauxite Hills into production. We have had a long and positive relationship, and it is very pleasing that we have been able to fulfill our promise to them. We look forward to continuing the long and now mutually beneficial relationship between our two companies.”

While the ramped-up activities at the Bauxite Hills mine are accelerating, along with commissioning issues being resolved and planned operational improvements being implemented, mining and barge loading rates are growing higher. The bauxite loaded from site to ship is now averaging over 6000 tonnes per annum. The shipment process, on the other hand, is performing up to the expectations, with no operational issues recorded.

The company expects to achieve its targeted production rate which is approximately 2 million tonnes for the CY2018 and also the targeted operational improvement, including the initiation of a large barge of approximately 7000 tonnes and commencement of mining at the second mining area.