Jul 02, 2020

Centrex provides update on Ardmore plans

Centrex provides update on Ardmore plans

Centrex Metals says it is scheduling production of concentrates from the trial mine project at Ardmore, south of Mount Isa, in mid to late 2021.

The timeline announced in a company update this week places production from the full Ardmore phosphate project in 2022, following an expected lift in phosphate prices 2021.

Centrex last year completed on-site assembly of a 70-tonne-per-hour start-up plant, designed to expand to a 140tph throughput to produce 800,000 wet tonnes of phosphate rock per annum from the site.

At that stage the company was aiming to start full-scale operations in 2020.

But it put the brakes on the project in November, when it announced a raft of cost-cutting measures and an agreement to terminate chief executive officer Simon Slesarewich’s employment.

In its update to the market this week, Centrex said discussions were continuing with various parties to provide funding for the Ardmore phosphate project and other Centrex projects.

The COVID-19 pandemic had caused delays, but progress was still
being made, the company said.

Marketing of concentrates from the proposed trial mining operation and also from full production continues.

“Centrex is pleased by the interest in its proposed future phosphate production and is working towards obtaining commitments for
future production,” the company reported.

It is looking to revise the Ardmore phosphate project definitive feasibility study to include updated financial parameters.