Metro continues apace in December quarter
PERTH (miningweekly.com) – Bauxite miner Metro Mining has reported a solid quarter in the three months to December, with production in line with expectations.
The ASX-listed company on Thursday noted that bauxite production for the quarter reached 1.2-million tonnes, down from the 1.4-million tonnes in the previous quarter, while bauxite shipments also declined from 1.4-million to 1.2-million tonnes in the same period.
In the full year ending December, Metro achieved its revised production guidance of between 3.3-million and 3.5-million tonnes, with the production of 3.5-million tonnes of bauxite.
Revenues for the December quarter reached A$55.27/t, down slightly from the A$56.22/t achieved in the previous quarter, while full year revenues were A$56.13/t.
Meanwhile, Metro noted that work on the Stage 2 expansion of the Bauxite Hills mine, to increase the production rate to six-million tonnes a year by 2021, also proceeded during the quarter.
At the end of the quarter, tenders had been received for all of the major work packages, with the Metro board expected to make a final investment decision following the completion of detailed engineering and design work.
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