Centrex Metals Limited (ASX:CXM) says the South Australian Government has declared Port Spencer on the Eyre Peninsula a major project.
The company says its a major step forward for its iron ore projects which needs an efficient and low-cost route to market via the export facilities at the port.
Centrex says go-ahead for the port awaits approval of at least one of the company’s proposed large-scale mining operations to underpin the required port capital.
The long-term vision is for the development of a multi-user port servicing numerous Centrex and third party mines in the region along with grain exports.
Centrex posted a $123,000 loss for the first half of the current financial year.