Metro ups DSO bauxite resource in Gulf takeover offer

METRO Mining has moved to enhance its intended takeover offer for neighbouring Cape York Gulf Alumina by announcing an 11.7 million tonne increase in its Direct Shipping Ore (DSO) bauxite resource.

Metro’s total Measured,

“The construction workforce will be deployed in February 2016, with river facility, access road and accommodation village the initial focus.

“The construction workforce will peak at 1100 people in late 2017.”

A Rio Tinto spokesman said the average annual construction workforce would be 600 people over three years.

“The workforce will build to around 400 people through 2016 and reach its peak during 2017,” he said.

“Once operational, Amrun will help to support ongoing employment for the existing workforce of 1400 employees and contractors at Rio Tinto’s Indicated and Inferred DSO Resource increases to 65.3m tonnes – up from 53.6m tonnes.

Metro’s chief executive Simon Finnis said it was significant that the additional ore was on a tenement south and adjoining Gulf Alumina’s Cape York

Since August, the company has looked for potential suppliers and contractors using the tender process.

A portal has been established on the ICN web page (www.icngateway.com.au).

“People interested in working on the project will also be able to use this portal to find details of contracting companies as they are awarded work packages,” the spokesman said.

It was intended to provide local and indigenous suppliers and community members with opportunities to benefit from the project.

bauxite

operations.” Skardon River project.

Last week Metro announced its intention to make a takeover offer for Gulf, securing the support of its largest shareholder and 20 per cent of the company.

“Metro’s offer to Gulf Shareholders will promote

“We have developed a local and indigenous participation strategy which includes a number of actions designed to provide access to business and employment opportunities to local community members.”

According to the ICN website, there are 41 packages, with 31 closed, ranging from site security to bus, ferry and vessel hire.

Packages still open include bulk earthworks, power transformers, pipeline installation, barging, steel fabrication and a sewage-treatment plant.

A timeline shows workers will be required from now compelling financial, operational and strategic rationale for the combination of the two companies,” Mr Finnis said.

A successful Metro takeover of Gulf Alumina would result in a combined group with a Pro-forma until late 2016 for river facilities, while those building the accommodation village will be needed from now until mid-2017, a similar period for the main access road and bulk earthworks.

Construction of the export facility runs until late 2018, with the power station, switchrooms and water supply and tailings and the process facilities through to 2019.

Master Builders Far Northern regional manager Ron Bannah said equipment was being moved from the company’s Gove operations to Weipa in preparation for construction: “Cairns will get a spin-off. I’m sure of that.” market capitalisation of about $42 million.

“Metro’s aim is to create a leading independent Australian bauxite company, well positioned to capitalise on the positive seaborne bauxite sector outlook,” he said.