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Metros Mining Ltd. announced that it signed a binding agreement with Xiamen Xiangsen Aluminium Co. to supply 790,000 wet tons of bauxite to the company in 2021.
On July 7, 2021, Metros Mining Ltd. signed an agreement with Senze Aluminum in Liulin, Shanxi for 1 million dry tons, or approximately 1.1 million wet tons, including two shipments totaling 120,000 wet tons, and three additional shipments of 60,000 wet tons each have been contracted and shipped in August. Thus Metrol Mining has supplied 300,000 wet tons of bauxite to Senzer.
This new contract formalises the remaining quantity of 790,000 wet tonnes under the Letter of Intent and is the result of ongoing good trials and significant efforts by both Australia and China.
Xiangsen Aluminum is a joint venture between Xiamen Xiangyu Group and Shanxi Liulin Senze Alumina Refinery. The joint venture is an integrated supply chain services company specialising in bauxite supply, alumina and coal trading.
Mr Simon Wensley, Managing Director and CEO of Metro Mining, said: "Metro is pleased to convert the 2021 Letter of Intent into a binding offtake agreement and the successful conversion of product into Metro products with refineries such as Xiangsen Aluminium and Shanxi Senze is a key part of our strategy to expand our market. As a supplier using Cape of Good Hope type cargo vessels from Australia, we are able to take full advantage of the logistics to deliver,, base load raw materials to our customers. We look forward to completing a long-term letter of intent in the near future and converting it into a binding contract to create a long-term mutually beneficial partnership that will help solidify the second phase of our expansion."
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