Centrex Metals writes down iron ore to focus on potash

By James Sean Dickson
Published: Wednesday, 24 June 2015

Centrex Metals is shifting its focus following an $A17.4m writedown on its iron ore assets to concentrate on its Oxley potash project, a non-standard, igneous source of potassium fertiliser.

ASX-listed Centrex Metals Ltd is to shift its focus to the recently acquired Oxley potash interest while "uncertainty and volatility remain in iron ore prices".

Centrex said it had adopted a "conservative approach" in impairing its iron ore portfolio by Australian dollar (A$) 17.4m ($13.4m*) in its 2015 accounts. While...

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