Metro Mining receives first sales revenue following bauxite shipment

Company News

by Anna Napoli

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.