Metro and Xiangsen signed a bauxite supply contract

Metro Mining Co., Ltd. announced that it has signed a binding agreement with Xiamen Xiangsen Aluminum Co., Ltd. to supply 2021 wet tons of bauxite to the company in 79.

On July 7, 2021, Metro Mining Co., Ltd. and Shanxi Liulin Senze Aluminum Co., Ltd. signed an agreement of 1 million dry tons and approximately 1.1 million wet tons, including a contract for two ships totaling 120,000 wet tons, and the other three ships of 60,000 each. Wet tons have also been contracted and shipped in August. So far, Metro Mining has supplied 300,000 wet tons of bauxite to Senze.

This new contract formally confirmed the remaining amount of 79 wet tons under the letter of intent, which is the result of the continuous good test results and major efforts of 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 service company specializing in bauxite supply, alumina and coal trading.

Mr. Simon Wensley, Managing Director and CEO of Metro Mining, said: “Metro is pleased to transform the 2021 letter of intent into a binding offtake agreement and successfully cooperate with Xiangsen Aluminum, Shanxi Senze and other refineries. The transformation of products into Metro products is a key part of our market expansion strategy. As a supplier using Capesize cargo ships from Australia, we can make full use of our logistics advantages to provide our customers with raw materials with basic loads. We look forward to completing a long-term letter of intent in the near future and transforming it into a binding contract to establish a long-term and mutually beneficial partnership to help consolidate our second phase of expansion.”

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