Australian iron-ore producer Fenix Resources has reported record shipments and maintained its full-year 2026 guidance as its integrated pit-to-port operations continued to perform strongly during the September quarter.
The company shipped 885 000 wet metric tonnes (wmt) of iron-ore across 15 shipments in the three months to September 30, up 17% from the previous quarter. Group C1 cash costs averaged A$75.7/wmt, within the midpoint of guidance, while the group’s average realised CFR price was A$147.6 a dry metric tonne (dmt).
Fenix said it ended the quarter with A$57.7-million in cash, slightly higher than the previous quarter, after making the upfront payment for the Weld Range project and paying a fully franked dividend of 1% share.
The miner maintained its 2026 financial year sales and cost guidance of 4.0-million to 4.4-million tonnes at a C1 cash cost of between A$70/t and A$80/t free-on-board Geraldton, underlining confidence in its operational platform.
Operationally, performance across Fenix’s three mines continued to improve. The flagship Iron Ridge mine shipped 354 000 wmt, the Shine mine contributed 414 000 wmt, and the newly commissioned Beebyn-W11 mine completed its maiden shipment in August, with steady-state production targeted for the December quarter.
“Operationally, the September quarter was another record-breaker for Fenix,” executive chairperson John Welborn said. “The successful commissioning of Beebyn-W11, our third mine, will allow us to deliver on our commitment to triple our production rate to four-million tonnes a year during 2025.”
Fenix also highlighted progress on the 290-million-tonne Weld Range Iron Ore project, where it secured exclusive mining rights under a 30-year agreement with Sinosteel Midwest Corporation, a subsidiary of China Baowu Steel Group.
“Strategically, securing exclusive mining rights to the 290-million-tonne Weld Range Iron Ore project is a transformational game-changer for Fenix,” Welborn said. “The landmark 30-year agreement cements a partnership with Baowu, the world’s largest steel producer, that will significantly accelerate our growth trajectory.”
“Fenix has never been better positioned to deliver exceptional and sustainable long-term shareholder value,” he added.