Metro Mining says Bauxite supply not affected by Chinese refinery closure

Company News

by Rachael Jones

Metro Mining (ASX:MMI) has responded to reports in the Chinese press about the temporary closure of Alumina refinery after environmental audits by Chinese authorities.

The reports say one plant has been affected by the closure, Xinfa Group's Shanxi refinery.

Xinfa source 100 per cent of their bauxite to feed this refinery from domestic sources within the island province of Shanxi.

Out of six alumina refineries Xinfa owns in China this is the only one impacted.

Metro’s Bauxite is supplied to Xinfa’s Refinery located in the coastal province of Shandong which is completely unaffected by any of the current environmental issues.

Metro is continuing to supply bauxite to Xinfa as planned under this offtake agreement.

Shares in Metro Mining (ASX:MMI) closed -3.57 per cent lower at $0.135 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.