After commencing mining operations just 5 months ago, Metro Mining has shipped one million tonnes of bauxite from its Bauxite Hills Mine north of Weipa. (Mining operations commenced 13 April 2018). The millionth tonne of bauxite was loaded aboard the bulk carrier ISA OLDENDORFF as part of a 60,000 tonne shipment bound for Metro’s foundation customer Xinfa Group. Xinfa is one of China’s largest integrated aluminium companies with significant refining and smelting operations. Metro has a 4-year binding off-take agreement to supply Xinfa with one million tonnes this year followed by 2Mtpa for each of the next 3 years. Pricing under the Agreement is linked to a well-established alumina price index.
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