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- Metro Mining (MMI) has signed two binding spot cargo agreements for its bauxite with Shanxi Liulin Senze Aluminium Company
- The two cargo agreements are for around 60,000 wet metric tonnes
- Shanxi Liulin Senze Aluminium Company is part of Senze Energy Group General Company Group which produces alumina for the Chinese domestic and international markets
- Notably, Shanxi Senze is looking to partially replace its domestic bauxite with an international supply
- Metro Mining last traded at 1.7 cents per share
Bauxite miners Metro Mining (MMI) has signed two binding spot cargo agreements with Shanxi Liulin Senze Aluminium Company.
The two cargo agreements are for around 60,000 wet metric tonnes (WMT) from the Bauxite Hills Mine, located in the Western Cape York in Queensland.
Shanxi Senze is part of Senze Energy Group General Company Group which produces alumina for the Chinese domestic and international markets from its plant in Shanxi Province.
This refinery has an alumina capacity of 1.3 million tonnes, requiring about three million dry metric tonnes of bauxite every year.
Notably, Shanxi Senze is looking to partially replace its historical supply of
domestic bauxite with international supply.
The agreements are the result of Metro’s marketing and technical teams within China, who have visited Shanxi Senze to meet with senior management and engineering teams.
Shanxi Senze’s General Manager, Liu Shuaihong, is pleased with the agreements.
“Given that supplies of local bauxite in Shanxi Province are very tight, it is good to be able to secure good quality bauxite from Metro Mining that will take the place of some of the local feedstock. We look forward to a long and fruitful agreement with Metro Mining,” he said.
Metro Mining Managing Director and CEO Mr Simon Wensley also appears happy with the partnership.
“We look forward to finalising the binding agreement, in the not too distant future, and establishing a long-term mutually rewarding relationship. We welcome the opportunity to become one of their major suppliers,” Mr Wensley said.
“Our technical team has worked closely with a number of inland refineries for over a year and it is pleasing that we are starting to see the fruits of that labour.”
On the market, Metro Mining last traded at 1.7 cents per share.
