Chinese state firm takes 13% stake in Australia's Centrex Metals

Posted on: Wed, 25 Nov 2009 21:40:00 EST


Symbols: CTXXF
MELBOURNE, Nov 26, 2009 (Asia In Focus via COMTEX) --
CTXXF | Quote | Chart | News | PowerRating -- A Chinese state-owned
company has formally taken a 13.04 per cent stake in South
Australian iron ore developer CENTREX METALS LTD (ASX:CXM).
Australian regulators gave WUHAN IRON & STEEL (GROUP) CO
(WISCO) (SSE:600005), China's third largest steel group, the
green light earlier this month to take the stake in Centrex.

* WISCO paid A$9.7 million (US$9.04 million) for a 15 per
cent stake, after about 40.4 million Centrex shares were placed
with the Chinese company at the heavily discounted price of 25
cents per share.

For full details on (CTXXF) CTXXF. (CTXXF) has Short Term PowerRatings at TradingMarkets. Details on (CTXXF) Short Term PowerRatings is available at This Link.

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