MACA

In 2020 Fenix Resources awarded the Iron Ridge drill & blast, mining, and crushing & screening contract for the Iron Ridge Project to MACA Limited (MACA).

MACA is a reputable contractor with a strong track record of operational experience in the mining sector and has been significantly involved in the Australian iron ore industry having carried out long term works for Atlas Iron Limited and Crossland Resources.

Early stage works commenced in September 2020 through the use of local contractors, with MACA currently mobilising heavy earthmoving equipment to site. Open pit mining and crushing and screening operations commenced in Quarter 4 2020.

MWPA

In the second half of 2023 Fenix Resources Limited executed an updated Port Lease Agreement and a Port Access and Services Agreement with Mid West Ports Authority (MWPA) for the export of additional iron ore products through the Port of Geraldton through the acquisition of additional on wharf storage

 The Agreement builds on our relationship with the MWPA from the start of our original lease and allows Fenix to export 4 million tonnes per annum of iron ore. The initial term of the agreements is three years, with six additional three-year extensions able to be triggered at Fenix’s election.

Fenix’s flagship Iron Ridge Project has been in development since September 2020 and commenced mining, crushing, and screening, and road transport operations in December 2020.

Fenix Resources has worked closely with MWPA for well over a year, and it culminated into significant commercial agreements that enables Fenix to increase its iron ore production and export through the Geraldton Port until 2054.

 Fenix Resources has agreed to a pricing schedule for Third Party customers who wish to use the facilities. These can be found here.

Fenix Newhaul

Fenix has become a fully integrated mining, logistics haulage business accruing from the July 2022 acquisition of 100% of Fenix Newhaul. This strategic move substantially reduces C1 FOB cash costs and provides flexibility to scale haulage operations tomatch production volumes. Furthermore, logistics capabilities in haulage and port operations enhances Fenix’s ability to unlock expansion opportunities in the Mid-West.

Wajarri Yamatji

In mid 2020, Fenix Resources Limited executed an Mining Cooperation and Benefits Agreement with the Wajarri Yamatji Native Title Claimant # 1 Group, thereby paving the way to develop the Company’s flagship high-grade DSO iron ore project – Iron Ridge, located near Cue in Western Australia.

The MCBA includes a modest sign-on fee, ongoing royalty payments, indigenous employment targets and the ability for Wajarri-controlled businesses to participate in opportunities at both Iron Ridge and in Geraldton, where the road transport and logistics joint venture entity is based. Settlement of the Sign-on Fee was via the issuance of 2.5 million new shares in Fenix to a nominee of the WY Group.

Sinosteel International Holding Co.

Fenix Resources Limited executed a binding offtake terms sheet with Sinosteel International Holding Company Limited in 2020. Sinosteel International Holding Company Limited is a Hong Kong-based export and import company, wholly owned by Sinosteel Group Corporation Limited, a Chinese State Owned Enterprise.

The Sinosteel Binding Offtake Terms Sheet is for 50% of the estimated iron ore production and sales and spans the life-of-mine, with annual review periods. Sales will be made on a free-on-board (FOB) basis, and the pricing structure includes a premium to reflect the higher iron content of the Iron Ridge iron ore.


Atlas Iron

In August 2020 Atlas Iron was elected to act as the marketing agent for 50% of the Iron Ore projected to be mined and sold from the Iron Ridge Project Mining Lease (M20/118-I).

In May 2016, Fenix’s 100% subsidiary, Prometheus Mining Pty Ltd acquired the Iron Ridge Project from Weld Range Iron Ore Pty Ltd, a wholly owned subsidiary of Atlas Iron.

The Sale and Purchase Agreement executed by the parties provided Atlas Iron a first right of refusal to act as the exclusive marketing agent in respect of up to 50% of the iron ore projected to be mined and sold from M20/118-I, subject to it meeting commercial terms. The entire current Ore Reserve and Mineral Resource for the Iron Ridge Project is contained within M20/118-I.