Centrex Metals mulls taking Wisco to court over stalled port plans

2015-12-15

Centrex Metals mulls taking Wisco to court over stalled port plans

Centrex Metals is mulling taking the subsidiary of one of China’s largest steel mills to court over a stalled port development in Australia.

Centrex said Wugang Australian Resources Investment, part of Wuhan Iron and Steel (Wisco), had breached an agreement by missing a deadline to pay A$4m for a joint venture involving the proposed Port Spencer north of Tumby Bay in South Australia.

Adelaide-based Centrex said it is taking legal advice to remedy the situation.

Source from : Splash

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