Metro shores up its marine logistics

Metro Mining is shoring up its marine capabilities to meet production goals. The company owns the Bauxite Hills mine with activities on western Cape York including barging product on the Hey River to vessels at anchor. Main Image: Ikamba offshore floating vessel being refurbished That’s going to become a lot easier with the arrival of an offshore floating platform (OFT), tug boat and maritime experience. Metro has announced that the 'ALM Tinka', to be renamed 'Ikamba', has safely completed its tow from Kamsar in Guinea to Shekou in Shenzen, China over around 10 weeks. Related: Metro notches up record half yearly production The company said the OFT was the most significant element in Metro’s expansion plan to reach 7 Mt/a capacity in 2024.1 Works have commenced on a statutory dry-docking and refurbishment program which is expected to take 6 to 8 weeks at a cost of approximately US$4 million. The OFT Ikamba is a joint venture between Metro and Louis Dreyfus Armateurs (LD). LD is contracted to manage the towing and dry-docking activities with oversight from the Metro marine team. The team is working with the shipyard to plan and execute the drydocking as efficiently as possible so as to maintain arrival in Australia before the end of November 2023. Tugboat in train Metro has also announced it has reached binding terms to acquire a tugboat vessel for US$2.05 million from a major marine and shipping company in Singapore. Metro Mining's new tug, the Eng Hup Herald was built in 2016 is 32.25m x 9.15m. The vessel, currently named Eng Hup Herald, is a planned and important aspect of the expansion project, as it will be capable of manoeuvring the OFT. Upon taking delivery of the vessel, within the next four weeks, it will undergo a short period of refurbishment works to meet Australian approval requirements. It will then mobilize to Australia, with an anticipated arrival in late Q4, 2023. Metro has also announced that Vincenzo De Falco is joining the company in September 2023 as General Manager of Marine and Supply Chain. Mr De Falco is a marine and transhipping expert with more than 15 years of experience with marine bulk shipping and transhipment companies Coeclerici Group, Louis Dreyfus Armateurs and IMC Industrial Group. The safe arrival and commencement of the dry-docking of the OFT Ikamba was another significant aspect in the implementation of their expansion project, said Metro CEO and MD Simon Wensley. “The acquisition of the tug Eng Hup Herald and recruitment of Vincenzo De Falco builds our asset base and capabilities to implement the expansion and also aligns with Metro’s long- term strategic objectives to support our growth in the marine industry over the coming years,” Mr Wensely said. Cash reserves will be used to fund the acquisition, with support being received from Metro’s senior lender, Nebari Partners LLC, in agreeing to extend the interest capitalisation period on their loan facility from 6 months to 9 months in exchange for a consent fee which will be added to the principal loan balance. Bauxite Hills has an estimated Reserve of 89.5 Million tonnes (Mt) and a total Resource of 124.5Mt and has been operating since April 2018.

Metro shores up its marine logistics

Industry Queensland

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