Metro Mining announces approval of Bauxite Hill expansion to 7Mtpa
2022-06-29 15:16:33 [Print]
Australia's Metro Mining Limited announced on June 29 that its board of directors has approved a Final Investment Decision (FID), subject to financing, to increase production capacity at its four million wet metric tonne (WMT) per annum Bauxite Hill operation in Far North Queensland to 7 million WMT
The company said binding offtake has already been secured for 5 million WMT in 2023 and 6 million WMT in 2024 to underpin payback in that time-frame.
All regulatory approvals are in place with intention to execute the expansion by Q4 2023. The expansion is expected to cost about A$28 . 3 million.
. The approval for the expansion is underpinned by securing additional binding offtake with Xinfa Aluminium Group for 2023 and 2024. The company said binding offtake has already been secured for 5 million WMT in 2023 and 6 million WMT in 2024 to underpin payback in that time-frame.
All regulatory approvals are in place with intention to execute the expansion by Q4 2023. The expansion is expected to cost about A$28 . 3 million.