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- Metro Mining (MMI) intends to recommence operations at its Bauxite Hills Mine when northern Australia’s wet season ends
- Last year, the company had to move into its wet season shutdown earlier than expected, causing staff and contractor redundancies
- Metro Mining’s planned recommencement in April will enable the employment of 130 more people, via contractors working for the company
- The company is currently in negotiations for additional sales in 2021 and beyond, which are progressing well
- Metro Mining is up 3.51 per cent and trading at 5.9 cents per share
Metro Mining (MMI) intends to recommence operations at its Bauxite Hills Mine when northern Australia’s wet season ends.
In August of last year, the company was forced to move its wet season shutdown earlier than expected. The COVID-19 pandemic’s impacts on market conditions and the aluminium supply chain resulted in Metro Mining’s Bauxite Hills Mine ceasing shipments sometime in September 2020.
The early closures resulted in a number of company staff and contractors being made redundant. This left only a small number of crew to remain on site for its general maintenance during the wet season.
Operations at the mine are now set to recommence on schedule, on April 19, 2021. Metro Mining is directly employing over 120 people from Cape communities and the Cairns region at the mine.
Recommencement of operations in April will enable contractors who provide services to the company to employ an additional 130 people. This will bring the site’s total personnel to 250 employees, many of which are from Indigenous backgrounds.
Metro Mining’s Managing Director and CEO, Simon Finnis, commented that the company’s team and contracting partners are keen to get back to work at Bauxite Hills.
“We have implemented several operational changes that will improve efficiencies and will continue to focus on mining and shipping rates and lowering operational costs, as we are always looking for improvements in our systems and processes,” he said.
“From what we’re seeing in the market and from our ongoing negotiations, the demand for Metro bauxite is returning, and confidence is returning to the market more widely,” he added.
Metro Mining’s goal is to mine and ship four million wet metric tonnes of bauxite between April and December. The company is currently in negotiations for additional sales in 2021 and beyond, which are progressing well.
Metro Mining is up 3.51 per cent, trading at 5.9 cents per share at 12:00 pm AEDT.
