Metro Mining has signed an agreement with its barging and transhipping partner, Transhipment Services Australia (TSA) for a floating crane barge at the Bauxite Hills mine. The barge is expected to be operational by Q4 2021. This is an important step in Metro Mining’s expansion plans of increasing annual production to 6mn mt and having the capability to load Capesize vessels.
The Australia-based miner announced, the company will be able to reduce shipping costs after mobilising the barge and converting it to a Capesize vessel. The floating crane barge has a projected capacity of 4.0mn wmt. The company’s average freight for Ultaramax vessels was $24/wmt in Q2 and capsize freight rates will be in the range of $12-14/wmt.