Metro Mining to beat 2019 guidance; It produces 452,000 WMT bauxite and ships 463,000 WMT in November

The Australian exploration and mining company Metro Mining Limited announced another strong monthly performance for November, and with that a step closer to the production guidance of 2019. According to the performance report, the company produced 452,000 wet metric tonnes (WMT) of bauxite in November and shipped 463,000 wet metric tonnes (WMT).

Metro Mining Managing Director and Chief Executive Officer, 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. “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.”

Up until November 30, Metro Mining’s total amount of bauxite production and shipment came in at 3.231 million WMT and 3.218 million WMT, respectively. This puts Metro on track to achieve its production and shipment guidance of 3.3 million to 3.5 million wet metric tonnes at Bauxite Hills this year.

If Metro can replicate its November performance, it can achieve the production of nearly 3.7 million WMT at the end of the year.

Based on the combined result in October and November, the average shipment for the quarter is about 480 WMT per month.

Metro Mining is set to start a stage two expansion project at Bauxite Hills as well, and for that has received a loan facility for up to A$47.5 million from Northern Australia Infrastructure Facility (NAIF). The funding would be used for the construction and mobilisation of a Floating Terminal at Skardon River. Once the expansion is complete, the production will increase to 6 million wet metric tonnes (WMT) per annum by 2021.

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