Metro Mining ceases 2022 operating season due to inclement weather yet still achieves record year

Metro Mining (ASX:MMI) has decided to cease the operating season at the Bauxite Hills Mine due to the closing in of a significant weather system on the Gulf of Carpentaria.

The significant weather system has resulted in forecasted strong north westerly winds and waves posing risks to the trans shipping activities.

The company says this is for the safety of personnel and assets.

Metro Mining would normally close down operations around this time of the year, however, intentions had been to load a further 19th Capesize vessel for the April to January season. This will now not occur.

Metro Mining was on track to meeting its guidance of 3.6-3.7 MWMT sales for the calendar year

Metro Mining was on track to meeting its guidance of 3.6-3.7 million wet metric tonne (MWMT) sales for the calendar year, however this earlier season end plus almost 5 days lost in the last 2 weeks to the failure of significant components on the TSA Skardon, Floating Crane barge, has resulted in the total shipments being 3.41 MWMT.

The company says while this is a disappointing outcome, this shipment achievement is still a calendar year record for the company.

Further updates will be provided as required and during the quarterly report.

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Images: Metro Mining Ltd
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.