Metro Mining 2023 Achievement

Metro Mining Limited (ASX:$MMI) has successfully achieved its market guidance for 2023 by mining and shipping 4.57 Million Wet Metric Tonnes (WMT) of high-grade bauxite to customers, surpassing the forecasted amount despite facing challenges from adverse weather conditions, including the impact of ex-Tropical Cyclone Jasper and subsequent heavy rain and flooding.

Executive Commentary

The adverse weather conditions posed significant challenges, but we are pleased to have met our 2023 market guidance. Despite the impact of ex-Tropical Cyclone Jasper and subsequent adverse weather, our team's dedication and efforts allowed us to exceed the forecasted amount. We are now focused on critical maintenance and the expansion project, aiming for the re-commencement of operations and transhipping in the second half of March 2024, weather permitting.

Summary and Outlook

Metro Mining's successful achievement of its 2023 market guidance demonstrates the company's resilience and commitment to delivering results despite facing adverse weather conditions. The company's expansion project, including the installation of the new wobbler screening circuit and the refurbishment of the transhipper 'Ikamba,' signifies its strategic efforts to enhance production capacity. Looking ahead, Metro Mining anticipates the re-commencement of operations and transhipping in the second half of March 2024, contingent on favorable weather conditions, as it continues to contribute to the bauxite industry and the economic impact in Cape York and Far North Queensland.