METRO MINING LIMITED (ASX:MMI)

 

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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.  

Bauxite is the raw material used to make aluminium.

The Bauxite Hills Mine commenced mining operations in April 2018. In June 2022 Metro announced plans to increase annual production capacity at Bauxite Hills from 4 million to 7 million wet metric tonnes per annum (WMT pa) in 2023.

Metro plans to spend $28.3 million on its “Stage 2” expansion.  The expansion plan, which is subject to financing, has been underpinned by the signing of additional binding offtake agreements with the Xinfa Group. Xinfa, Metro’s foundation customer, is one of the largest integrated aluminium companies in China.

The expansion plan has been outlined in an updated Definitive Feasibility Study (DFS)

The DFS confirms the Bauxite Hills Mine is a highly profitable, low-cost, long-life producer of quality bauxite perfectly timed to respond to expected very strong market conditions over the next few years.

Metro and its contractors employ around 250 workers with Indigenous employees accounting for around 30% of the workforce.

Metro is proud of its considerable economic contribution to both Cape York and the broader Far North Queensland Region.

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