Only three slides of Metro’s presentation to the Gold Coast Investor Showcase event yesterday covered the coal assets, with the company concluding that its coal tenements will be retained in good standing until the thermal coal market recovers.
Subject to regulatory approvals and financing, Metro aims to build the 2 million tonnes per annum Bauxite Hills project in Queensland’s Cape York region during the March quarter of 2016 and expects exports to start in the following quarter.
Metro said the project represented a major opportunity to replace a portion of Chinese market for imported bauxite since Indonesia banned bauxite exports in January this year.
