Metro Mining, which operates its Bauxite Hills operation in far north Queensland, achieved record shipments for 2024 and the month of December.
The company shipped 5.7 million wet metric tonnes (wmt) from Bauxite Hills last year, a 24 per cent increase from total 2023 shipments. In December, Metro shipped 480,000wmt of bauxite, 53 per cent higher than a year before.
This came despite the company facing 10 days of adverse weather conditions, including wave heights of up to 3.5m, which impacted transhipping operations.
Metro has been firing on all cylinders amidst soaring alumina prices, with which bauxite is directly derived.
Alumina climbed above $US800/t on the London Metal Exchange in December, having traded below $US500/t as recently as August, which came as bauxite supplies from global leader Guinea Alumina Corporation (GAC) were suspended due to customs issues.
And with demand for alumina, and aluminium for that matter, only set to heighten due to their increased importance in the green energy transition, Metro will benefit further.
BMI, a unit of Fitch Solutions, forecast aluminium demand to grow by 3.2 per cent year-on-year in 2024, reaching 70.35 million tonnes.
Interestingly, aluminium demand from China’s EV sector alone grew by 31.4 per cent in the first nine months of 2024.
In announcing record 2024 shipments, Metro said it has also inked a new offtake agreement with Emirates Global Aluminium (EGA), which owns GAC. This will see Metro ship bauxite to EGA’s high temperature refinery in Abu Dhabi.
Metro is targeting a 2025 shipment target of between 6.5–7 million wmt. If the company is able to achieve this, it will be seen as a reliable partner to aluminium players across the world.
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