Otmane El Rhazi : Centrex to impair iron-ore assets as it shifts focus to potash

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Metals developer Centrex Metals will write down the noncash carrying value of its South Australian iron-ore portfolio and shift its focus to the development of the Oxley potash project, in Western Australia. The ASX-listed company on Wednesday said the recent volatility in spot and long-term forecast iron-ore prices had led to its decision to impair the noncash carrying value of its entire iron-ore portfolio asset base by A$17.4-million in the 2015 financial year.