Metro Mining Limited announced on December 29 that it has decided to cease the operating season at the Bauxite Hills Mine due to the closing in of a significant weather system on the Gulf of Carpentaria resulting in forecasted strong North Westerly winds and waves posing risks to the trans-shipping activities. This is for the safety of personnel and assets.
The Company would normally close down operations around this time of the year, however, intentions had been to load a further 19th Capesize vessel for the April to January season. This will now not occur.
Metro Mining was on track to meeting its guidance of 3.6 to 3.7 MWMT sales for the calendar year, however this earlier season end plus almost 5 days lost in the last 2 weeks to the failure of significant components on the TSA Skardon, Floating Crane barge, has resulted in the total shipments being 3.41 MWMT.
This is a disappointing outcome, however, this shipment achievement is still a calendar year record for the company.