Metro Mining Ltd (ASX:MMI)

Metro Mining Ltd (ASX:MMI)

Metro Mining Ltd (ASX:MMI) is an Australian mining and exploration company based in Queensland, Australia. The company's flagship project is the Bauxite Hills Mine, Skardon River, located approximately 95 km North of Weipa town in Cape York, North Queensland. The mine operates through a simple flow sheet that includes mining, hauling, screening, barging, and transhipping into large ocean-going vessels, with a current capacity of approximately 4 million tonnes (Mt) per annum. There are plans to expand the capacity to 7 Mt per annum by 2024.

The mine boasts a JORC Reserve of 89.5 Mt and a total JORC Resource of 124.5 Mt, and it has been in operation since April 2018. The bauxite ore extracted from the Bauxite Hills Mine is exported overseas to be refined to meet the increasing demand for alumina and aluminium.

Metro Mining Ltd (ASX:MMI) has recently received a $20.00M post-IPO equity investment on 27 July 2022.

The company's business strategy, along with its established operations and expansion plans, positions it as a significant player in the bauxite mining industry.