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Metro Mining Inks Bauxite Contract With Chinese Aluminium Firm

Metal News - Published on Thu, 04 Jul 2019

Image Source: Proactive Investors Australia
Australia’s Metro Mining Ltd announced the signing of a new contract with a state owned aluminium firm in the People’s Republic of China for delivery of 420 thousand wet metric tonnes of bauxite ore to be delivered by year’s end. Though Metro declined to name the firm, it said the company operated refineries in four different provinces, with the bauxite ore under contract destined for a refinery in Shanxi that is currently operating at below capacity. Metro says the company is modifying the refinery at present in order to accept bauxite ore harvested from Metro’s mine at Bauxite Hills.

Metro did not specify an exact price for the bauxite ore beyond noting it is based on market prices plus the usual bonus and penalty clauses used in most such contracts.

With this contract Metro has sold about 90% of its planned production this year, which is projected at between 3.3 million and 3.5 million wet metric tonnes of bauxite ore. The firm says interest in next year’s harvest continues to be robust as well.

Source :

Posted By : Ratan Singh on Thu, 04 Jul 2019
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