Centrex Metals has received approval from the FIRB for the investment by Baotou Iron and Steel in Centrex.

Under the iron ore joint venture Baotou will pay a total of up to $40 million into a joint venture account to earn a 50 per cent interest in the iron ore rights to Centrex’s mineral tenement EL3610 9km north of Cowell on Eyre Peninsula, South Australia.