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Metro Mining on track to meet higher end of 2019 guidance from Bauxite Hills

MD and CEO: “It has been a very successful operational year and I am extremely proud of the effort and performance of the Metro team and our contracting partners.”

Metro Mining Ltd - Metro Mining on track to meet higher end of 2019 guidance from Bauxite Hills
Bauxite is being shipped from the Bauxite Hills Mine in Far North Queensland

Metro Mining Ltd (ASX:MMI) is on track to meet the upper end of its 2019 guidance after another strong month of bauxite production and shipping during November at Bauxite Hills Mine in Far North Queensland.

Shipment levels of 463,000 wet metric tonnes (wmt) putting Metro in position to achieve 3.5 million wmt for 2019.

There were 452,000 wmt mined during the 30 days with an average daily rate of 15,051 wmt and average daily shipping rate of 15,437 wmt.

On target for guidance

Metro Mining managing director and CEO Simon Finnis said: “This is another very pleasing result for the team, both on and off-site.

“We are on target to meet the upper end of guidance.”

During the first two months of the fourth quarter, there was 931,000 wmt mined and 967,000 wmt shipped with a daily mine average of 15,257 wmt and daily shipping average of 15,855 wmt.

To the end of November, there had been 3.231 million wmt mined and 3,218 million wmt shipped in 2019.

Annual guidance for both was 3.3 million to 3.5 million wmt.

"Successful year"

Finnis added, “It has been a very successful operational year and I am extremely proud of the effort and performance of the Metro team and our contracting partners.”

Quick facts: Metro Mining Ltd

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ASX:MMI
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Market Cap: $134.72 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...

on 8/2/19

2 min read