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Additional Information
Market: ASX
Sector: General Mining
EPIC: CXM
Latest Price: 0.15  (7.14% Ascending)
52-week High: 0.26
52-week Low: 0.13
Market Cap: 47.04M
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Centrex Metals
www.centrexmetals.com.au
Centrex Metals (ASX: CXM) is focused on iron ore exploration on the Eyre Peninsula in South Australia. The company owns the Greenpatch, Bungalow and Cockabidnie tenements. The Bungalow/Minbrie magnetite deposit is located 9km north of Cowell on the east coast of the Eyre Peninsula.
Full Centrex Metals profile here
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Centrex Metals advances proposed port to public comment stage

8th Mar 2012, 8:18 pm

Stage 1 of Centrex Metals’s (ASX: CXM) proposed deepwater bulk commodities export facility, on the east coast of South Australia’s Eyre Peninsula, has advanced to the public and regulatory comment stage with the release of the Public Environmental Report.

Importantly, Port Spencer has been assigned major development status from the South Australian Government and will export iron ore and grain from the Eyre Peninsula, providing effective access to international markets.

The port would be capable of loading cape size vessels of up to 200,000 tonnes and would have a shiploader rate of 5,000 tonnes per hour for ore. Long term, there would also be the provision for rail access.

Potential customers of the port would include Eyre Iron, a 60/40 joint venture between WISCO and Centrex, which is targeting the export of 5 million tonnes per annum, Free Eyre, a consortium of Eyre Peninsula grain growers expecting to export at least 500,000 tonnes of grain per year, and iron ore explorer Iron Road, which has expressed interest in exporting magnetite via Port Spencer.

Centrex engaged specialist environmental consultant Golder Associates to undertake the environmental impact assessment for the project, which includes the preparation of the Public Environmental Report.

The release of the draft report is the next step in the community consultation process which the company has already been undertaking on the Eyre Peninsula.

The report describes the project and why it is needed, the potential environmental, social, and economic impacts that might arise during the project’s construction and operation, and how these issues would be managed.

All submissions received will be reviewed, considered and addressed in Centrex’s Response Report, which is the next stage in the development approvals process.

The South Australian Government will then be able to make a final assessment as to whether to grant development approval to the Stage 1 proposal.

The consultation period will remain open from 9 March to Friday 27 April.


Next Steps

The next step following the granting of development approval is for the design team to develop a Bankable Feasibility Study.

Parsons Brinkerhoff has been appointed as the owners engineers and will lead the study, while Free Eyre will assist with the grain export design and operational requirements.

No investment advice


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