Metro Mining Limited (ASX: MMI) has announced that the board has made its final investment decision (FID) on the expansion route to seven wet metric tonnes per annum (WMt) for its Bauxite Hills mine, located 95km north of Weipa on Western Cape York, North Queensland. Bauxite ore is the mineral processed into aluminum and MMI Is Australia’s only pure play bauxite miner.
The key elements of the final investment decision (FID) include a decision on the expanded transshipping solution utilizing a large, existing offshore floating terminal (OFT), with increased loading capacity and proven weather resilience. The OFT is a 50/50 joint venture negotiated with Louis Dreyfus Ports and Logistics.
The FID also includes a commitment to a more resilient and lower operating cost screening solution, with weather resilient “wobbler feeder” technology.
The potential upside capacity available in the OFT and wobbler could underpin further expansion of Bauxite Hills to 8 to 9MWMt, subject to establishing expansion performance and completion of further study.
Simon Wensley, CEO and managing director of MMI commented, “It is exciting to now have the expansion pathway clear, fully approved, underpinned by offtake, and financed. The established OFT and wobbler technologies are part of our continuing strategy to create more resilience, lower cost, and increased upside optionally in our business. Additionally, the JV with Louis Dreyfus adds globally renowned and specialist expertise to our existing contract partner team.”
To find out more, please visit www.metromining.com.au
