Metro Mining Restarts Operations Early as Aluminium Market Tightens

Metro Mining Limited ( (AU:MMI) ) has provided an announcement.

Metro Mining reported an early restart of operations at its Cape York bauxite mine on 11 March 2026, following a heavy wet season and a temporary shutdown in early January, achieving a March loading record of 100 thousand WMT despite disruptions from Tropical Cyclone Narelle. The company completed extensive wet-season maintenance, a major dry-dock program for its Offshore Floating Terminal Ikamba, and a leadership restructure to support a new operating system, while maintaining 2026 shipment guidance at 6.6 to 7.1 million WMT.

Management highlighted that aluminium markets have tightened amid Middle East hostilities, pushing aluminium prices to a four-year high and supporting bauxite pricing, particularly as higher freight costs and potential production curbs in Guinea weigh on West African competitors. Most of Metro’s second-quarter volumes were priced before the latest geopolitical impacts, with net FOB revenue per tonne expected to be about 8% below the fourth quarter of 2025, implying some near-term pricing pressure but a supportive medium-term demand backdrop for its Australian high-grade bauxite.

The most recent analyst rating on (AU:MMI) stock is a Buy with a A$0.15 price target. To see the full list of analyst forecasts on Metro Mining Limited stock, see the AU:MMI Stock Forecast page.

More about Metro Mining Limited

Metro Mining Limited is an Australian bauxite producer listed on the ASX that operates in Cape York, Queensland. The company supplies high-grade bauxite to aluminium producers, targeting customers seeking reliable, near-to-market raw material from a low-risk sovereign jurisdiction.

Average Trading Volume: 578,810

Technical Sentiment Signal: Hold

Current Market Cap: A$399.4M

For a thorough assessment of MMI stock, go to TipRanks’ Stock Analysis page.