Highlights

  • September-quarter bauxite shipments totalled 2.114 million wet metric tonnes.
  • Metro revised 2026 shipment guidance to 6.0–6.5 million wet tonnes.
  • Quarterly average CIF pricing reached A$60.8 per wet tonne.
  • Cash fell to A$16.8 million amid debt repayments and operational constraints.

Metro Mining Limited (ASX:MMI) produces and ships bauxite from its Bauxite Hills operation in Queensland. It shipped 2.114 million wet metric tonnes during the September 2026 quarter, compared with 1.799 million in the June quarter. The company subsequently revised its full-year shipment expectations, while reporting improved quarterly pricing alongside logistics interruptions and cost pressures.

Shipment volumes and revised guidance

In an announcement dated 19 October 2026, Metro Mining Limited (ASX:MMI) revised its 2026 shipment guidance to 6.0–6.5 million wet tonnes. Mining volumes for the September quarter were 2.013 million wet tonnes, compared with 1.919 million in June. The operation also stripped 733 thousand bank cubic metres of overburden.

Marine logistics and realised pricing

Metro Mining Limited (ASX:MMI) said the barge-loading facility averaged 1,790 tonnes per hour at more than 95 per cent availability. However, a crane outage and channel erosion affected shipping logistics. Following a barge grounding, the channel depth fell to 1.3 metres before bed levelling restored it to 1.6 metres. The average CIF selling price was A$60.8 per wet tonne, compared with A$57.1 in June . The company reported agreed December-quarter pricing at US$2–US$4 per dry tonne above the September-quarter level.

Costs, cash generation and debt

Site costs at Metro Mining Limited (ASX:MMI) were A$30.3 per wet tonne, down from A$33.7 in June . Site EBITDA was A$7.0 per wet tonne, compared with A$4.4 in June . Customer receipts totalled A$122.7 million for the quarter and net operating cash inflow reached A$10.6 million. Quarter-end cash decreased to A$16.8 million from A$23.8 million. Financing outflows of A$12.5 million included A$9.4 million in debt repayments.

Commercial arrangements and operational requirements

Metro Mining Limited (ASX:MMI) reported two new offtake agreements covering a combined 4.5 million wet tonnes annually from 2027 through 2029. It also approved the first stage of a screening project involving two Finlay screens. Operational uncertainties included marine infrastructure outages, channel conditions, diesel and freight costs, and geological variability. Two high-potential safety incidents and groundwater exceedances were disclosed, although the quarter recorded no lost-time injuries. The proposed Skardon North mining lease application remains a future permitting step.

Key Insights

Metro Mining Limited (ASX:MMI) increased shipments sequentially in the September quarter but reported site returns below earlier operating periods. Revised annual guidance, logistics reliability and cash requirements provide context for the company’s continuing Bauxite Hills operations.