Ownership to grow

METRO Mining Ltd has entered binding agreements to increase its ownership in Gulf Alumina Limited to 39 per cent. Under the agreements Metro will buy the shareholdings of four long-term Gulf shareholders in a deal worth about $8.5 million. Metro Mining’s flagship project is the Bauxite Hills Project, north of Weipa. “The key focus continues to be the near term development of Bauxite Hills, while remaining open to bringing about the logical combination of Metro and Gulf’s projects ...,” said Metro chief executive Simon Finnis.