"Amrun is not the only new bauxite project on Queensland's Cape York Peninsula, with Metro Mining close to starting production at the Bauxite Hills project about 100 kilometres north of Weipa.
Metro expects first shipments in April and has binding agreements to sell 7 million tonnes of bauxite over its first four years of production.
Metro expects to initially produce about 2 million tonnes of bauxite per year, but hopes to raise that to 6 million tonnes per year within four years of operation.
The company is in talks for further offtake agreements with multiple Chinese customers, and had $19 million of cash on hand last week."
MMI Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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