Australia Centrex Metals announced on that its joint venture partner Wuhan Iron & Steel made a total of AUD 51 million payments in accordance with the obligations under the joint venture agreements entered into between Centrex Metals and WISCO in July 2010 relating to Centrex Eyre Peninsula iron ore tenements in South Australia.

AUD 26 million was paid directly to Centrex as a second installment for the purchase of the 60% of the iron ore rights to the southern tenements, and the rest of AUD 25 million was paid to the Joint Venture Exploration Account as the second installment of WISCO's exploration work commitment.

(Sourced from The TEX Report Ltd)