Sustainably Extracting Tomorrow’s Resources Today

Fenix is pioneering the future of mining in the Mid-West, embracing technologies and practices that ensure our operations contribute positively to the environment and our communities. Our approach is centred around minimising environmental impact, enhancing safety and maximising efficiency – setting new benchmarks for the industry.

Map of Western Australia showing Fenix resources, including mining projects and facilities, with labeled routes and a location inset highlighting the Geraldton area.

Iron Ridge Mine

Flagship asset – producing high margin, premium iron ore at a steady-state run-rate of 1.3 million tonnes per annum

  • Fenix’s wholly-owned Iron Ridge Mine hosts some of the highest-grade iron ore in WA with irongrades increasing with depth ​
  • Mineral Resources total 6.6Mt at 65.1% Fe, inclusive of Ore Reserves1
  • Premiumhigh grade Direct Shipping Ore (DSO) product averaging c.63% Fe; above the benchmark DSO product range2
  • No significant impurities ​- attracts a premium price on the seaborne market, as purer product results in lower emissions
  • More than 3Mt of premium iron ore exported to date with an average net operating margin greater than A$50 per tonne shipped
  1. Refer Annual Report of Fenix Resources as released on 29 August 2023 (page 7): Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code, 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC). The Mineral Resource comprises 6.3Mt Indicated and 0.3Mt Inferred.
  2. Benchmark DSO product: ranges between 58-62% Fe. Steel works are demanding high grade ore to meet increasingly strict government regulations.
Aerial view of a large open-pit mine surrounded by vast flat terrain, with exposed earth showing various layers and colors. Dirt roads circle the pit, and small vehicles are visible at the bottom.

Shine Iron Ore Mine

Shovel-ready project which provides optionality for Fenix to market high-quality blended iron ore products

  • Fenix acquired the Shine Iron Ore Mine in July 2023 – an open pit mine located 230km east of Geraldton
  • The Shine Iron Ore Mine has a Mineral Resource Estimate of 15.1Mt @ 58% Fe1
  • In early July 2024, Fenix announced that it had approved the restart of mining operations at Shine, following the completion of a detailed review and the implementation of operational strategies to improve and de-risk the project. The mine is expected to be brought back into production with a modest A$7.4 million capital requirement, commencing during the December quarter at a rate of 100kt per month.
  • Stage 1 of the mine’s development will produce a hematite product with an expected average iron grade of 60.0%. Stage 2 and 3 mine plans will be assessed following further optimisation work, with significant opportunity for Fenix to extend mine life at Shine subject to future approvals. Refer to the ASX announcement 4 July 2024 for further information.

Refer ASX announcement dated 29 June 2023. 
1 The Shine Mineral Resource comprises 5.1Mt Measured, 6.3Mt Indicated and 3.6 Inferred.  

Beebyn-W11 Iron Ore Deposit

10 million tonne Right to Mine from Sinosteel; targeting production growth and mine life extension

In October 2023, Fenix acquired the right to mine and export 10 million tonnes of high-grade iron ore from the Beebyn-W11 iron ore deposit in the Weld Range 

Fenix has completed a feasibility study for the planned mine development at the Beebyn-W11 deposit. Key investment highlights include:

  • Forecast production rate of 1.5 million dry metric tonnes (dmt) per annum over a 7-year mine life at an average strip ratio of 2.2
  • JORC Ore Reserve of 10 million tonnes at an average grade of ~62.2% Fe
  • Pre-production capital cost of A$22.9M with c.A$3M in post-production capital
  • LOM average C1 cash operating costs of A$77.5 per wet metric tonne
  • Average LOM annual EBITDA of A$47.9 million (based on average Platts 62% Fe price of $153.85/dmt (US$100/t and AUD:USD of US$0.65)
  • Pre-tax NPV10 of A$150.9 million and estimated pre-tax Internal Rate of Return of 189%, offering further significant upside at recent iron ore prices
  • Fenix’s existing Newhaul Road Logistics and Newhaul Port Logistics businesses to provide essential infrastructure and state-of-the-art capabilities
  • Fenix to work under the Native Title and Heritage Sustainable Benefits Agreement between Sinosteel Midwest Corporation Limited (SMC) and the Wajarri Yamaji (Native Title Agreement)
  • Regulatory and Environmental Approvals for Stage 1 well progressed with all final required approvals on track for receipt during calendar 2024.
  • First production from the new Fenix mine at Beebyn-W11 targeted for early calendar 2025

For details refer ASX announcement dated 25 July 2024

A construction site with sand and gravel.
An aerial view of an open pit mine.

Twin Peaks Iron Ore Mine

500,000 tonne Ore Purchase Agreement secured by Fenix; provides immediate boost to Fenix production

  • Right to purchase and export up to 500,000 tonnes of high-grade (+60% Fe) iron ore from 10M Pty Ltd’s Twin Peaks Iron Ore Project, located 200km north-east of Geraldton
  • Provides immediate boost to Fenix’s iron ore production and revenue 
  • First iron ore shipment from Twin Peaks expected in early 2024
  • Fenix to utilise expanded port capacity and logistics capabilities, providing haulage, storage, port services, ship loading, marketing and sales
  • Enhances near term export tonnages while Fenix works to bring Beebyn-W11 into production and investigates opportunities for Shine Iron Ore Mine alongside the flagship Iron Ridge Iron Ore Mine
  • Partnership between Fenix and 10M which will unlock value from an otherwise stranded Mid-West iron ore asset

Refer ASX announcement dated 20 November 2023. 

Sign Up for ASX Alerts and News to receive the latest updates, insights, and developments directly to your inbox.

Subscribe