Centrex Metals Limited (‘CXM’) was incorporated on 23 March 2001. In July 2006 the Company listed on the Australian Securities Exchange (‘ASX’) on the development of iron ore projects in 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 the 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 bulk commodities.
Centrex is now a fertiliser focused project developer with the company’s flagship Ardmore project encompassing a high-grade phosphate rock deposit in Queensland scheduled to produce trial product shipments in mid-2019 before moving into full scale development in 2020. Ardmore will be the only developed phosphate mine in Australia exporting product offshore. Centrex is also undertaking targeted phosphate rock exploration in Queensland and the North Territory to expand its phosphate resource base.
Centrex has also progressed a large scale potassium nitrate mining technology project in Western Australia and is now seeking a project partner to advance to the next stage.