Centrex Expects Increase in Iron Ore Reserves

Reuters reported Centrex (ASX:CXM) is commissioning a study of iron ore reserves in southern Australia with an increase in demand from Asian companies hoping to decrease dependence on mega iron ore producers in Western Australia.

As quoted in the market news:

Centrex, which is partnering with two Chinese steel firms, said the amount of ore believed buried at its Bungalow Hill prospect on the Eyre Peninsula of South Australia state had ballooned to 338 million tonnes after two years of exploration work.

Click here to read the full Reuters report.