Australian miner Metro Mining shipped 456,000wmt of bauxite in July 2020, up by 21.92pc from the prior-year period. The company’s mining output rose by 13.09pc to 501,000wmt of bauxite in July 2020 from the prior-year period.
In April-June 2020 quarter, it mined 1.41mn wmt of bauxite and shipped 1.25mn wmt. Till date, Metro Mining’s mined output rose by 45.12pc to 1.92mn wmt of bauxite from the prior year, while shipped bauxite rose by 31.04pc to 1.70mn wmt.
The company announced that mining activity in July was slightly ahead of budget and in line with the performance for 2020. The shipping activity marginally dropped due to belt replacement on barrage loading facility. Due to high swell conditions, the company also reported some downtime.
While announcing Q2 results, Metro Mining announced that as the COVID-19 pandemic situation has affected market conditions, alumina and bauxite prices remain weak. The mining company shared that it could sell bauxite outside ‘Xinfa Contract’ and if the sales could not be concluded by the end of the next month, Bauxite Hills will be moved into its wet seasonal shut down earlier than the original plan. The period of closure may extend from mid-September to April 2021 after which the delivery to Xinfa would recommence.