Metro Mining Limited (ASX:MMI) Reports Record Shipments
Operational Achievements
Metro Mining Limited (ASX:MMI) has reported a record total of 5.7 million wet metric tonnes (WMT) of bauxite shipments for 2024, marking a 24% increase from 2023. December alone saw shipments of 0.48 million WMT, a remarkable 53% increase compared to December 2023. Despite facing adverse weather conditions during December, which included significant wave heights impacting production, the company demonstrated operational resilience through its offshore floating terminal, Ikamba, which successfully navigated the challenges.
Future Outlook
Looking ahead, Metro Mining has set a shipment target of between 6.5 to 7.0 million WMT for 2025. Additionally, a new multi-cargo contract has been executed with Emirates Global Aluminium for the upcoming year. Simon Wensley, CEO and Managing Director, noted the achievements in 2024 and expressed optimism about the operational capabilities demonstrated during the difficulties faced in December.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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