Australia-based bauxite miner Metro Mining has signed two new offtake agreements with China-based aluminium producer Xinfa Group, which committed to purchase 7-million tons from April next year.
The first contract, between April and September, will comprise one-million tons, the second contract will start in October 2022 and run to September 2025, involving two-million tons a year.
Xinfa was Metro’s foundation customer with an initial four-year offtake agreement that coincided with the start of mining operations at Metro’s Bauxite Hills mine in April 2018.
Metro MD and CEO Simon Finnis says the latest offtake agreements are testimony to the strong personal and business partnership that exists between Xinfa and Metro. “It is a relationship we value highly and will always endeavour to support and grow.”
Importantly, he adds that these contracts demonstrate Xinfa’s continued support towards Metro and its strategy around the stage 2 expansion.