Metro Mining Could Benefit From Guinea Supply Disruptions -- Market Talk

Dow Jones10-14

2241 GMT - Guinea supply disruptions are tightening bauxite and alumina markets more, says Shaw & Partners, which is bullish on Australia's Metro Mining. It refers to reports that bauxite exports from Guinea Alumina Corp, or GAC, have been suspended due to customs issues. GAC, a unit of Emirates Global Aluminium, produces about 12 million tons of bauxite annually, representing some 10% of the country's output. In a note, analyst Andrew Hines highlights that EGA sources most of its bauxite from Guinea but recently acquired a trial cargo from Metro Mining that will be shipped this quarter. "The Al Taweelah alumina refinery is similar in design to the Yarwun refinery in Queensland and a Weipa style bauxite is likely to be a suitable feedstock," Shaw says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 13, 2024 18:41 ET (22:41 GMT)

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