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.
In July 2019 Metro released an updated Reserve and Resource for the Bauxite Hills Mine - Estimated Reserve is 109.5Mt and total Resource is 138.2Mt (ASX Announcement)
The Bauxite Hills Mine commenced mining in April 2018 (ASX Announcement). In its first year of operations the Mine achieved its 2018 production guidance shipping 2.037 Million Tonnes to 5 different companies in China (ASX Announcement)
In the second year of operations the Bauxite Hills Mine completed production for 2019 on December 23 after loading its 56th vessel reaching the upper end of its 2019 production guidance with just over 3.5 Million tonnes mined and shipped. (ASX Announcement)
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)
In October 2019 Metro announced completion of the Definitive Feasibility Study for Stage 2 Expansion of the Bauxite Hills Mine confirming the economic benefits of expanding the Mine to an annualised rate of 6.0 Million Wet Metric Tonnes. (ASX Announcement)
Metro Mining also holds one of Australia’s largest thermal coal resources in Queensland’s Surat Basin.