Australian Metro Mining Ltd has enlarged and extended its Strategic Cooperation Agreement with Xiamen Xiangsen Aluminium Limited for the delivery of approximately 5 million wet metric tonnes of bauxite over the next three years. The new arrangement builds on a previous letter of intent between the two companies for 1.1 million wet metric tonnes of bauxite for the current year. The new agreement calls for 1.7 million wet metric tonnes of bauxite ore to be supplied over the next three years.The deal comes on the heels of a letter of intent signed in July between Metro and Shanxi Liulin Senze Aluminium for an extra 1.1 million wet metric tonnes per year through 2023. Currently, the total offtake agreed to in that letter of intent has been committed for the current year.The enlarged arrangement is the result of testing conducted over the last year at multiple alumina refineries in Shanxi, Guangxi, and Guizhou. Within the following two weeks, the two parties are anticipated to reach a formal agreement.Metro Mining is situated in Brisbane, and it originated as a spin-off from Cape Alumina Ltd. following MetroCoal Ltd's acquisition of the company in 2014.
Australian Metro Mining Ltd has enlarged and extended its Strategic Cooperation Agreement with Xiamen Xiangsen Aluminium Limited for the delivery of approximately 5 million wet metric tonnes of bauxite over the next three years. The new arrangement builds on a previous letter of intent between the two companies for 1.1 million wet metric tonnes of bauxite for the current year. The new agreement calls for 1.7 million wet metric tonnes of bauxite ore to be supplied over the next three years.The deal comes on the heels of a letter of intent signed in July between Metro and Shanxi Liulin Senze Aluminium for an extra 1.1 million wet metric tonnes per year through 2023. Currently, the total offtake agreed to in that letter of intent has been committed for the current year.The enlarged arrangement is the result of testing conducted over the last year at multiple alumina refineries in Shanxi, Guangxi, and Guizhou. Within the following two weeks, the two parties are anticipated to reach a formal agreement.Metro Mining is situated in Brisbane, and it originated as a spin-off from Cape Alumina Ltd. following MetroCoal Ltd's acquisition of the company in 2014.
