Fenix Resources has capped off a record financial year by shipping 4.4 million tonnes (Mt) of iron ore and setting production guidance of 4.7-5.3Mt for FY27 as it continues expanding its operations.
The company reported record quarterly performances across mining, haulage and shipping in its June quarterly activities report, with 1.299 million wet metric tonnes (wmt) of iron ore shipped across 21 vessels during the June quarter.
This result helped Fenix achieve FY26 production within its guidance range of 4.2-4.8Mt while maintaining C1 cash costs at the lower end of guidance.
“Fenix delivered a record June 2026 Quarter in every area of our business,” Fenix executive chairman John Welborn said.
“In Mining, we set a record for total material mined. In Haulage, we set a new record for total tonnes hauled. In Shipping, we smashed the previous record for a Berth 5 vessel load. Collectively, these exceptional performances resulted in Fenix shipping 1,299k wmt of iron ore during the quarter across 21 vessels.
“Looking forward, FY27 guidance has been set at total iron ore sales of 4.7Mt to 5.3Mt at a C1 cash cost of between A$70/wmt and A$80/wmt FOB Geraldton, a 14 per cent increase in volume at the midpoint while maintaining cost guidance at FY25 and FY26 levels.”
Fenix recorded 1.364 million-wmt hauled during the quarter, up 28 per cent from the previous quarter, while its Beebyn-W11 operation in Western Australia’s Mid West shipped 742,000wmt as production continued to ramp up.
The Shine operation shipped 433,000wmt, while Iron Ridge contributed 124,000wmt as the mine approaches the end of its economic life.
The company also received approvals for the Beebyn-W10 deposit, with mine development underway and first blast expected during the current quarter. Fenix said the transition to the Beebyn Hub as its primary production centre remains ahead of schedule and on budget.
Fenix formed a freight partnership during the quarter with Mira Bulk to reduce shipping costs, while securing a new US$44 million (A$62.8 million) long-term funding facility.
It also appointed Jennifer Morris OAM and Michael Gollschewski as independent non-executive directors to strengthen its board as the company advances its Weld Range definitive feasibility study.
Fenix finished the quarter with $81 million in cash and said the Weld Range DFS remains on track for completion by the end of 2026, supporting its longer-term ambition to increase production to 10Mtpa.