It was listed on the Australian Securities Exchange, named after its quarry near the small town of Penrice, South Australia.

It was forced to close its soda ash production plant in Osborne and was placed in liquidation in August 2014.

[3] In addition to its large limestone and marble quarry just north of Angaston, it had a number of other establishments in South Australia, including the only soda ash production facility in Australia, located on the Port River in the north-western Adelaide suburb of Osborne.

On 24 June 2014, Penrice Soda Products announced that it would be closing its Osborne plant,[4] and the Angaston quarry was sold to Adelaide Brighton Cement in July 2014.

By-products discharged to the Port River included calcium chloride, ammonia, and insoluble residues, known as "calsilt".