Fenix Resources has marked a major operational milestone, hauling 10 million tonnes since the commencement of production, as it delivered a resilient March 2026 quarter despite weather disruptions and fuel supply pressures.
Fenix executive chairman John Welborn said the achievement highlighted the strength of the company’s integrated business model during a period of significant external challenges.
“I am extremely proud of Fenix’s resiliently strong performance in the March 2026 Quarter,” he said.
“During the quarter we marked the milestone achievement of hauling ten million tonnes since commencement of production.”
“The safety and well-being of our employees, contractors and their families is Fenix’s first priority,” Welborn said.
“Our response to the threat to our people and our assets in the Mid-West region posed by Tropical Cyclone Narelle was to immediately implement Fenix’s cyclone response procedures across every site and operation to protect lives and to maintain our operational readiness.”
Total haulage reached 1.063 million wmt, broadly in line with the December quarter.
Production performance was mixed across the company’s operations. Iron Ridge delivered six shipments totalling 372,000wmt, a 5 per cent increase quarter-on-quarter, while Shine shipped 240,000wmt and Beebyn-W11 contributed 362,000wmt.
Fenix’s financial position strengthened during the period, with cash rising to $86.3 million as at 31 March 2026, up from $78.9 million at the end of December, supported by strong operating performance.
Looking ahead, Fenix has maintained its FY26 guidance of 4.2–4.8 million tonnes of iron ore sales at a C1 cash cost of $70–$80/wmt FOB Geraldton, although costs are expected to rise in the June quarter due to higher diesel prices.
Growth initiatives continue to progress, with mining accelerating at the Beebyn-Hub and construction underway on a 5Mtpa crushing plant, while the Weld Range definitive feasibility study remains on track for completion in the second half of calendar year 2026.