Metro Mining Ltd has sent its first shipment of 62,000 tonnes of bauxite to China from its flagship Bauxite Hills Mine in northern Queensland. The delivery is part of a four year offtake agreement with Xinfa Group, one of Chinas largest integrated aluminium companies. Under the agreement, Metro will supply one million tonnes in the first year followed by two million tonnes for each of the following three years.
Metros managing director and CEO Simon Finnis said: n++Once again I wish to congratulate the entire Metro team. Whilst the first shipment is an extremely exciting event it is also very demanding and has been another job well done.n++
The Bauxite Hills Mine has an estimated ore reserve of 92.2 million tonnes and a total resource of 144.8 million tonnes with an estimated 17-year mine life. The mine now becomes a globally significant bauxite mining operation and will feed the growing seaborne bauxite market.