Proactive Investors - Run By Investors For Investors

Metro Mining unaffected by China refinery audits, working towards 75% more production in 2019

A refinery in China has been temporarily closed but it has no effect on Metro's business.
mine site picture
Shares in the company last traded at 13.5 cents

Metro Mining Ltd (ASX:MMI) has addressed Chinese media reports related to environmental audits of off-take partner's aluminium refineries.

Bauxite is shipped from Metro's operating Bauxite Hills Mine in North Queensland to a refinery located in the coastal province of Shandong in China.

Metro notes that the refinery that has been impacted by the audit is in the Shanxi inland province of China, which is fed by bauxite 100% sourced from China.

As such, Metro is continuing to supply bauxite to its off-take partner Xinfa as planned under their long-term agreement.

READ: Metro Mining loading first 2019 shipments after resuming operations at Bauxite Hills

Metro's CEO and managing director Simon Finnis said: "Metro and Xinfa have formed a strong and mutually beneficial relationship over a number of years. We meet regularly to discuss ways to build on this sound footing, and we look forward to this partnership continuing to flourish as Bauxite Hills continues to deliver on its commitment to Xinfa.”

Metro has guided to 2019 calendar year bauxite production of 3.5 million wet metric tonnes (wmt), a 75% increase on 2018 production of 2.0 million wmt.

View full MMI profile View Profile

Metro Mining Ltd Timeline

Related Articles

Development work at Far West deposit where mining will start this quarter
January 21 2019
The company will open a new underground mine this quarter after achieving record production levels.
January 31 2019
Last year’s pre-feasibility study demonstrated the project’s large scale, long life and low-cost lithium production.
April 01 2019
Four years ago, the firm struck a deal to acquire the Dixie mining claims in Ontario’s prolific Red Lake gold district

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use