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Article: AUSTRALIAN GOV'T APPROVES CHINESE INVESTMENT IN CENTREX.

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AsiaPulse News
Article date:
November 6, 2009
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CANBERRA, Nov 6 Asia Pulse - The Australian government on Thursday approved a A$271 million (US$246.96 million) investment by China's third largest steel maker in iron ore explorer Centrex Metals Ltd. (ASX:CXM).

The company plans to build a new export port in South Australia with its proposed Chinese joint venture partner.

The Foreign Investment Review Board has unconditionally given the green light to Wuhan Iron & Steel (Group) Co (WISCO)(SSE:600005) earning a 60 per cent stake in the iron ore rights to five Centrex-owned tenements on South Australia's Eyre Peninsula.

Centrex said WISCO was now gaining approval for the deal from China's State ...

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