Metro Mining receives A $47.5 million in financing for Phase II expansion of Bauxite Mines

Published: Apr 9, 2020 12:55

Source: SMM compilation

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SMM News: it is reported that the Metro Mining (Metro Mining Ltd) has been approved by the Queensland Ministry of Finance, obtained the Northern Infrastructure Promotion Fund (Northern Australia Infrastructure Facility, referred to as NAIF) A $47.5 million financing for the Metro Mining Bauxite Hills mine phase II expansion.

Last year, the company completed its final feasibility study, (DFS), for the second phase of its expansion of its bauxite mine in northern Queensland.

It is reported that the bauxite mine reserves 109.5 million tons, the mine life to 2037; by 2020, the annual production capacity will reach 4 million wet tons, by 2021 to 6 million wet tons and maintain stable production.

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