Metro Mining Limited has signed two additional Binding Offtake Agreements with China's Xinfa Group. The new Agreements commence next year and commit Xinfa to a total of 7 Million DMT under the two contracts, aligning with Metro's Stage 2 expansion plans. Key pointsTotal commitment for 7 million dry metric tonne First Contract April to September 2022Fixed price CIF basis1 Million DMT Second Contract - October 2022 to September 20252 Million DMT (+/- 10%) per annumMarket pricing to be agreed quarterly in advance on an FOB basis Condition Precedent is commitment to the Stage 2 Expansion Xinfa was Metro's foundation customer with an initial four-year Agreement that coincided with the commencement of mining operations at Bauxite Hills in April 2018. It is one of the largest integrated aluminium companies in China with significant refining and smelting operations in Shandong, Shanxi, Guangxi and Xinjiang Provinces.
Metro Mining Limited has signed two additional Binding Offtake Agreements with China's Xinfa Group. The new Agreements commence next year and commit Xinfa to a total of 7 Million DMT under the two contracts, aligning with Metro's Stage 2 expansion plans. Key pointsTotal commitment for 7 million dry metric tonne First Contract April to September 2022Fixed price CIF basis1 Million DMT Second Contract - October 2022 to September 20252 Million DMT (+/- 10%) per annumMarket pricing to be agreed quarterly in advance on an FOB basis Condition Precedent is commitment to the Stage 2 Expansion Xinfa was Metro's foundation customer with an initial four-year Agreement that coincided with the commencement of mining operations at Bauxite Hills in April 2018. It is one of the largest integrated aluminium companies in China with significant refining and smelting operations in Shandong, Shanxi, Guangxi and Xinjiang Provinces.
