Fertiliser company PRL Global is in line to acquire collapsed North-West Queensland phosphate miner Centrex.
The company has been selected as the preferred party to advance through a 45-day period to conduct exclusive due diligence on Centrex, including its subsidiary Agriflex.
John Park and Joanne Dunn of FTI Consulting were appointed as voluntary administrators of Ardmore mine owner Centrex last month.
The Ardmore phosphate mine, south of Mount Isa, has been placed into care and maintenance mode.
In an update to the ASX today, PRL Global said the acquisition of Centrex would provide the opportunity to expand its customer base and market access, while driving growth and value for shareholders and other stakeholders.
The parties would finalise the terms of the potential acquisition subject to the due diligence being completed to the satisfaction of PRL, it said.
PRL Group owns and operates a rock phosphate mine on Christmas Island, about 1500km west of the Australian mainland and 2600km from Perth.
