Centrex Metals Limited (‘CXM’) was incorporated on 23 March 2001. In July 2006 the Company listed on the Australian Securities Exchange (‘ASX’) having exploration licences covering an area of over 2,000km2 over known iron ore deposits and prospects on Eyre Peninsula, South Australia.
In July 2010 CXM signed two very significant joint venture agreements with Chinese steel companies. Baotou Iron & Steel Group Company Limited (‘Baotou’) signed an agreement covering the Bungalow tenement and Wuhan Iron & Steel (Group) Co. (‘WISCO’) signed an agreement covering 5 tenements in south east of the Eyre Peninsula.
Prior to the deterioration of the iron ore market the Company anticipated the oversupply of iron ore and began a process of diversification into other minerals and bulk commodities. This process has seen the acquisition of the Goulburn and Archer tenements (polymetallic) and Woolgarlo (gold) in New South Wales. More recently, in March 2015 the Company acquired the Oxley Potassium Project from Sheffield Resources Ltd and is now conducting testwork with a view to completing a scoping study in the middle of 2016.