Metro Mining (ASX:MMI) has met market guidance for 2023 with just shy of 4.6 million wet metric tonnes (WMT) of ‘high-grade’ bauxite mined and shipped to customers during the 2023 calendar year.
The $91.67 million market capitalisation company says it will be re-starting operations and transhipping in the second half of March 2024, weather permitting.
This comes after the company experienced a ‘significant’ impact from ex-Tropical Cyclone Jasper which caused halting transhipping operations for 10 days in December 2023, along with subsequent heavy rain and flooding affecting the site.
Metro says the weather conditions prevented the floating crane TSA Skardon from resuming operations, however geared loading continued until 4 January 2024 for 4.61 million WMT shipped from April 2023.
Further, the Metro Bauxite Hills Operation has now entered its annual shutdown period during which critical maintenance on fixed, mobile, and marine assets will be carried out.
A new wobbler screening circuit will also be installed, as part of the company’s expansion project.
Metro Mining is a bauxite producer and explorer focused on its wholly owned Bauxite Hills Mine operating on the Weipa bauxite plateau, 95km north of Weipa near the Skardon River in Queensland.
As of 30 September 2023, the company had $21.613 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Metro Mining
