Metro Mining (ASX:MMI) shipped 184,000 wet metric tonnes during Q1 2025 from the Bauxite Hills Mine located near Weipa, Queensland.
During this calendar year, Metro is targeting to achieve between 6.5 million to 7 million wet metric tonnes in shipments.
This news comes after the $347.17 million market capitalisation company completed operational mobilisation and re-commissioning, with the first vessel loaded.
Metro notes that the early start of production and shipping activities has been enabled by the investment in operational practices and equipment that are better able to cope with wet ore conditions.
Additionally, reduced environmental risks contributed to the early start of production, including the new wobbler screening circuit and offshore transhipment terminal Ikamba.
The company’s tug, Mandang, has joined Ikamba at the Skardon River and will be a positive addition to the fleet. Looking ahead, Metro will continue to progress opportunities to reduce the impact of the wet season pause on the Q1 cashflow.
Metro adds that although alumina prices have continued to correct a little further to the end of Q1, traded bauxite prices have remained resilient. The company has agreed all cargo pricing for Q2 2025 at a 20% premium to Q4 2024.
According to Fastmarkets, alumina prices have declined by 42.1% from $670.98 per tonne at the beginning of this year. This decline has been prompted by excess supply and muted consumer demand, as well as reduced concern over bauxite supply.
Meanwhile, bauxite prices reached an all-time high of between $115 and $130 per dry metric tonne in January 2025. However, since then, prices have trended down with Fastmarkets assessing bauxite cost, insurance, and freight (CIF) China between $90-85 per dry metric tonne in March 2025.
Looking forward, IMARC Group forecasts the bauxite market to reach US$21.4 billion by 2033, exhibiting a growth rate of 2.94% during 2025 and 2033. This rise is expected to be driven by the growing demand for aluminium for various industries, as well as the increased adoption of EVs and innovations in mining technologies.
Write to Aaliyah Rogan at Mining.com.au
Images: Metro Mining
