Fenix Resources Completes First Iron Ore shipment from Twin Peaks

THE DRILL SERGEANT: Fenix Resources (ASX: FEX) has hauled, loaded and shipped the first lump iron ore product from the Twin Peaks direct shipping iron ore project near Geraldton in Western Australia.

Fenix Resources executed an Ore Purchase Agreement with 10M Pty Ltd in November 2023 granting Fenix the right to purchase 500,000 tonnes of high-grade ore from Twin Peaks.

The first Twin Peaks shipment contained 59,275 tonnes of +60 per cent iron Fenix TP Lump DSO.

Fenix expects to complete the haulage, storing, loading, shipment and marketing of the 500,000 tonnes of Twin Peaks iron ore covered by the Ore Purchase Agreement during 2024.

“Fenix is delighted to have created a second production source for the company in the Mid-West,” Fenix Resources executive chairman John Welborn said in the company’s ASX announcement.

“Our partnership with 10M Pty Ltd has supported their transition from explorer to producer and is unlocking value for both companies as well as growing the Mid-West economy.

“Fenix’s unique integrated mining, logistics and port services businesses provides an exciting platform for growth for both the company and the many projects in the region seeking to advance to production.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE