METRO MINING LIMITED (ASX:MMI)
Metro Mining Limited is an Australian exploration and mining company based in Brisbane, Queensland.
Metro’s flagship project, the Bauxite Hills Mine, located 95km north of Weipa is one of the largest independent projects within the internationally acclaimed Weipa Bauxite Region. The Company holds a total tenement package covering approximately 1,900sq km on Western Cape York.
Metro's Bauxite Hills Mine ore is being shipped to meet China's strongly growing bauxite market; where Cape York bauxite is well known and highly regarded. In order to meet this demand Metro increased the Bauxite Hills Mine 2019 Calendar Year production to 3.5Mt (ASX Announcement)
Bauxite Hills Mine commenced mining April 2018 and in its first year of operations achieved its Production Guidance and shipped 2.037Mt of bauxite to China (ASX Announcement). In 2019 production completed on December 23, with 56 vessels loaded and the upper end of Production Guidance reached, 3.5Mt was shipped. (ASX Announcement). In October that year Metro announced completion of the Definitive Feasibility Study for Stage 2 Expansion of the Bauxite Hills Mine confirming the economic benefits of expanding to an annualised rate of 6.0M WMT. (ASX Announcement)
In March 2021 Metro released an updated Reserve and Resource for the Bauxite Hills Mine - Estimated Reserve is 101.5Mt and total Resource is 131.2Mt (ASX Announcement)
Metro Mining also holds one of Australia’s largest thermal coal resources in Queensland’s Surat Basin.