Metro Mining Limited (MMI) has released an update on its JORC Ore Reserve and Resource estimates for the Bauxite Hills Mine, effective December 31, 2024. The update primarily reflects mining activities during the 2024 calendar year, with no additions from exploration as no exploration activities were undertaken during the year. The company’s total Ore Reserves are now estimated at 77.7 million wet tonnes, with an average Al2O3 content of 49.8% and SiO2 of 13.3%. This represents a 5.5 million tonne decrease from the previous estimate in May 2024, accounting for depletion due to mining.
The total Resource estimate stands at 114.4 million dry tonnes, down 4.3 million tonnes from December 31, 2023, again solely due to mining. The resource comprises Measured, Indicated, and Inferred categories with varying Al2O3 and SiO2 percentages. No conversions from Indicated to Measured or Inferred to Indicated categories were undertaken in this update. The company says mining mainly occurred at BH1, while BH6 contributed less. Bauxite is processed via screening to remove oversize, with oversize cemented bauxite crushed and re-fed. The ore is sequenced to deliver a blended specification based on client agreement and market research. The company is able to generate positive NPV from its current contracts and market analysis.
Metro Mining is focused on sustaining its operations at Bauxite Hills, with future work geared towards grade control drilling and potential infill drilling in areas of Inferred Resources to improve confidence. The company is also implementing a plan to ramp up production and capital with $28.3 million to achieve 6.0Mt of annual production.
