Metro Mining (ASX:MMI) says its received the first sales revenue following the arrival in china of two shipments of bauxite.
The first shipment of bauxite was recently delivered to Metro’s long term off-take partner Xinfa.
Xinfa is one of China’s largest integrated aluminium companies and has a 4 year agreement with Metro.
The mining company will supply Xinfa with one million tonnes in the first year and 2 million each year thereafter.
Pricing under the agreement is confidential.
Shares in Metro Mining (ASX:MMI) are trading almost 10 per cent higher to 23 cents.