Bauxite Hills Project

Metro Mining Raises $36.5 MM for Bauxite Hills via Rights Issue

Metro Mining Raises $36.5 MM for Bauxite Hills via Rights Issue

Brisbane’s Metro Mining Ltd. raised $36.5 million for its Bauxite Hill mine in a recently-completed rights issue. According to domestic financial media, the firm’s 1:2 non-renounceable rights issue was priced at $0.125. Metro received applications for roughly 60% of the 292.3 million...

Events

Gulf Alumina’s Board Recommends Metro Mining’s Takeover Offer

Brisbane’s Metro Mining Limited is in line to become the new owners of Gulf Alumina after Gulf’s board unanimously recommended that its shareholders accept Metro’s offer. The approval of Metro’s offer by Gulf’s board is the penultimate step in Metro’s bid to acquire the firm. Metro began the process of acquiring Gulf in December and […]

Gulf Alumina Confirms Metro Mining’s Buyout Offer is Superior

Brisbane’s Metro Mining Ltd. said on Wednesday that the board of Gulf Alumina Limited confirmed its offer to buy all outstanding Gulf shares was superior to the proposal offered by Moly Mines Limited. Metro, which has a 39.3% stake in Gulf at present, says that the purchase of the remaining Gulf shares represents a “logical […]

Metro Mining Inks Bauxite Contract with Xinfa Group

Brisbane’s Metro Mining Ltd announced yesterday that it has papered an agreement with the People’s Republic of China’s Xinfa Group. According to Metro, the agreement is for four years and obliges the firm to provide one million metric tons in the contract’s first year, then two million metric tons per annum for the remaining three […]

Metro Mining Inks Deal to Substantially Increase Stake in Gulf Alumina

Australia’s Metro Mining Limited announced yesterday that it has signed agreements to increase its stake in Gulf Alumina Limited to roughly 39% of the latter’s issued capital. Metro Mining says that the agreement means acquiring the shares held by four long-term Gulf shareholders. The acquisition cost Metro Mining A$8.5 million, which was funded by an […]