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Metro Mining Ltd

Metro Mining continues to ramp-up production and shipping from Bauxite Hills Mine

The company is on track to meet its production and shipping guidance of 3.3-3.5 million wet metric tonnes for 2019.

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Metro recently attained a daily shiploading record of 20,835 wet metric tonnes

Metro Mining Ltd (ASX:MMI) has achieved a steady ramp-up in bauxite production and shipping from its Bauxite Hills Mine in Far North Queensland during the June quarter.

The company has now reached the budgeted operating rates and is achieving consistent results on a daily basis.

Metro had encountered some unexpected adverse swell conditions starting late May. These conditions gradually improved and returned to expected conditions around June 10, 2019.

From this point onwards, daily shiploading rates have averaged over 15,000 wet metric tonnes (WMT) per day, including a daily record of 20,835 WMT.

The company is confident of maintaining these levels throughout the year and remains on track to meet its production and shipping guidance of 3.3-3.5M WMT.

Metro managing director and chief executive officer Simon Finnis said: “While it was a challenging start to the quarter, I am extremely proud of how the site team and our contract partners responded to resolving issues as they arose.

“All aspects of the operation have finished the quarter performing strongly, and we have laid the groundwork to meet our current production guidance.”

Quick facts: Metro Mining Ltd

Price: $0.12

Market: ASX
Market Cap: $166.19 m
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Metro Mining lifts production guidance for 2019 by 17%, Stage 2 DFS update...

Metro Mining Ltd (ASX:MMI) managing director & CEO Simon Finnis updates Proactive Investors on quarterly results, with a focus on increasing production levels from the Bauxite Hills Mine in northern Queensland, Australia. The company is currently working on an updated definitive...

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