Metro Mining Ltd
ASX:MMI
Metro Mining Ltd
Metro Mining Ltd. is engaged in the explortion of coal and bauxite. The company is headquartered in Brisbane, Queensland. The company went IPO on 2009-12-04. The firm's flagship project, Bauxite Hills Mine, is located approximately 95 kilometers north of Weipa on Western Cape York, where the Company holds a total tenement package covering approximately 1,900 square kilometers. The company also has approximately four billion tone thermal coal resource in Queensland's Surat Basin. The Company’s project also includes Bundi Project and Columboola Project. Its Bundi Project area is located immediately south of Glencore's proposed Wandoan Mine development and New Hope Coal's proposed Elimatta Mine. The Bundi Project coal resource estimate is 2001.6 megaton (Mt). Its Columboola Project is a joint venture between Metro and SinoCoal Resources Pty Ltd. Its Columboola has a thermal coal resource estimate of 1216.6 megaton (Mt) at depths amenable to underground mining.
Metro Mining Ltd. is engaged in the explortion of coal and bauxite. The company is headquartered in Brisbane, Queensland. The company went IPO on 2009-12-04. The firm's flagship project, Bauxite Hills Mine, is located approximately 95 kilometers north of Weipa on Western Cape York, where the Company holds a total tenement package covering approximately 1,900 square kilometers. The company also has approximately four billion tone thermal coal resource in Queensland's Surat Basin. The Company’s project also includes Bundi Project and Columboola Project. Its Bundi Project area is located immediately south of Glencore's proposed Wandoan Mine development and New Hope Coal's proposed Elimatta Mine. The Bundi Project coal resource estimate is 2001.6 megaton (Mt). Its Columboola Project is a joint venture between Metro and SinoCoal Resources Pty Ltd. Its Columboola has a thermal coal resource estimate of 1216.6 megaton (Mt) at depths amenable to underground mining.
Record Shipments: Metro Mining achieved record bauxite shipments for Q2, reflecting a 19% increase year-on-year as the company's expansion reached full production.
Strong Pricing & Margins: Net FOB unit revenue rose 41% to $72 per tonne, and margin increased about 500% over last year, driven by high bauxite prices and cost control.
Cost Improvements: Site costs averaged just under $32 per tonne, with expectations for further reductions as operations normalize after weather disruptions.
Cash Flow & Royalties: The company paid off all deferred royalties ($9 million), increased its cash balance, and reported trade receivables of about $25 million as of June 30.
Operational Challenges: Weather-related channel disruptions impacted Q2 volumes, but maintenance was brought forward to support smoother operations in coming quarters.
Guidance & Outlook: Metro remains on track for the top end of guidance, targeting about 5 million tonnes of production in H2, and expects to benefit from lower site costs and full FX hedging at AUD 0.63 for the rest of 2025.
