Centrex Metals writes down iron ore to focus on potash
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...