https://www.miningweekly.com

Metro receives first revenue from Bauxite Hills shipments

4th June 2018

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Metro Mining has received provisional payment from its client in China for the first two shipments of bauxite from its Bauxite Hills mine, in Queensland.

The first two shipments totalled about 123 000 t of bauxite.

Metro has a four-year offtake agreement with Chinese aluminium company Xinfa for one-million tonnes a year of bauxite in the first year and two-million tonnes a year for each of the next three years. Pricing under the offtake agreement is confidential, but Metro stated that it was linked to a well-established alumina price index.

“Receiving the first sales revenue is another exciting milestone for Metro and heralds a new era for us,” commented MD and CEO Simon Finnis.

Meanwhile, Metro reported an improvement in mining and loading rates from pit to ship as commissioning issues are being resolved. The company confirmed that it expected to achieve its targeted production rate of two-million tonnes this year.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.172s - 107pq - 2rq
Subscribe Now