Administrators have put the Ardmore phosphate mine in North-West Queensland into care and maintenance.

FTI Consulting said the difficult decision came after the administrators were unable to source appropriate funding to allow the companies involved to trade on a business-as-usual basis.

‘As a result of transitioning into care and maintenance, a number of employee positions of the companies have been made redundant, effective 11 March 2025,’ FTI Consulting said in a statement released to the ASX.

The administrators declined to specify the number of positions made redundant.

John Park and Joanne Dunn of FTI Consulting were appointed as voluntary administrators of mine owner Centrex and its subsidiary Agriflex last week.

It came after Centrex launched an entitlement offer in January to raise about $10.4 million, subject to a minimum subscription condition of $9.0 million.

The company had repeatedly extended the closing date for that fundraising effort, which was vital to strengthen its bank balance and complete its Stage 1.5 expansion project at Ardmore.

The administrators have kicked off a bid to sell or recapitalise the companies and are seeking non-binding indicative offers by March 19.

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