Metro signs more offtake deals
PERTH (miningweekly.com) – Bauxite miner Metro Mining has signed two additional binding offtake agreements for 2018 and 2019, for an accumulative 780 000 t of product.
The miner said on Monday that 580 000 t of this offtake was due for delivery in 2018, with the remainder, at Metro’s option, in either 2018 or 2019.
MD Simon Finnis told shareholders that the agreements were another step in building the acceptance of Metro bauxite and getting a stronger foothold in the Chinese market.
“These agreements are particularly pleasing as 2018 is now largely covered to a number of different customers, and we’ve started to sell material for next year,” said Finnis.
Some 90% of Metro’s planned 2018 production has now either been sold or contracted for sale, the company said, along with 80% of the planned 2019 production.
“It demonstrates the strong demand for our bauxite in the Chinese market and supports our growth and marketing strategy. The mine continues to perform well with all commissioning issues well and truly behind us, and production continuing to increase month on month.”
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