Australian miner, Metro Mining, shipped 536,454wmt bauxite from Bauxite Hills mine in June 2020. The company exceeded its upper end of June quarter (April-June 2020) guidance by 14pc or 150,688wmt and produced 1.41mn wmt of bauxite. The miner shipped a total of 1.25mn wmt bauxite in the quarter.
The company’s June quarter guidance stood at 900,000 -1.10mn wmt for both mining and shipping. Metro, however, states its mining rate is purposely kept low to reduce stockpiles.
In June, the miner produced a total of 505,000wmt of bauxite, up from 427,000wmt in the prior-year period from all its mines. It shipped 536,454wmt in June 2020, up from 374,000wmt in June 2019. In April and May, metro produced 914,000wmt of bauxite and shipped 715,000wmt.
Metro Mining had produced and shipped 3.5mn mt of wet bauxite from Bauxite Mines located 95km north of Weipa in 2019. The company recently inked a deal with Xinfa to sell 2.3mn mt of dry bauxite as per off-take arrangements for the year 2020.