Metro Mining reports drop in bauxite production and shipments in June quarter

Metro Mining announced production and shipping results for June 2021. Bauxite production was 729,000 wet metric tonnes (WMT) in June quarter, down from 1.419 million tonnes in June quarter 2020.

The company’s June quarter bauxite shipments stood at 629,000 WMT. That was down from 1.251 million WMT. Bauxite mined per day was 11,053 WMT. Shipment per day stood at 11,234 WMT in June quarter.

“Production and shipping tonnages were less than the comparable quarter in 2020. A decision to reduce production and shipping activity was taken in response to adverse ocean freight rates and macro economic conditions. Poor weather conditions also affected production and shipping activity,” Metro Mining said.

Metro Mininf reported sales revenue (gross) of A$31.7 Million and site EBITDA of (A$7.4) Million for the quarter.

“Due to market circumstances and high freight rates forcing selectivity of spot sales the revised sales target for 2021 is 3.3 – 3.5M WMT,” the company said.

source https://www.alcircle.com/news/metro-mining-reports-drop-in-bauxite-production-and-shipments-in-june-quarter-68978