About Bauxite and Metro Mining
Bauxite is the ore used to make aluminium, a critical and strong growth metal in the energy transition. Metro Mining is an independent bauxite producer and explorer, with its 100% owned Bauxite Hills Mine operating on the Weipa bauxite plateau approximately 95km north of Weipa, near the coast on the Skardon River. Metro Mining produces a high alumina bauxite, shipping direct to customers in very large ore carriers. Metro Mining recognises and has productive agreements with the Traditional Owners of the land on which it operates and is proud of its high percentage of indigenous employees and the economic impact it has in Cape York and Far North Queensland.
Significant Progress on Turnaround Achieved
• 34% increase in 2023 shipments to a company record of 4.6 million WMT
• 33% increase in 2023 revenue with only a 6% increase in cost of sales
• Underlying EBITDA improved by $43.3 million to $18.5 million
• Operating cash inflows of $12.3 million
• Production and shipment guidance for 2024 set at 6.3 to 6.8 million WMT
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