The Australian Bauxite miner Metro Mining has published its performance sheet of December’19 quarter, with production aligned with expectation.
A downfall of 15% has been noticed when compared to the September’19 quarter, though when compared to June’19 quarters, a straight growth of 37% is reflected.
The ASX-listed company on 23rd January’20 noted that bauxite production for the quarter reached 1.2-million tonnes, down from the 1.4-million tonnes in the previous quarter, while bauxite shipments also declined from 1.4-million to 1.2-million tonnes in the same period.
Metro has achieved its revised production guidance of between 3.3-million and 3.5-million tonnes, with the production of 3.5-million tonnes of bauxite for the full year ending December’19.
The revenues for the December quarter posted at A$55.27/tonne, a slight fall from the A$56.22/tonne achieved in the previous quarter, while full-year revenues were A$56.13/tonne.
Metro Mining has noted for the time that works on the Stage 2 expansion of the Bauxite Hills mine, to increase the production rate to 6 million tonnes a year by 2021, also preceded during the quarter.
Tenders had been received for all of the major work packages at the end of the quarter, as the Metro board is expected to make a final investment decision following the completion of detailed engineering and design work
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