Fenix Resources (ASX: FEX) has been expanding its iron ore footprint across Western Australia. Fenix chairman John Welborn provided Wally Graham with a concise rundown on Day Two of the 2025 RIU Sydney Resources Roundup.
THE DRILL SERGEANT: Fenix Resources (ASX: FEX) reported an updated JORC code-compliant Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Iron Ridge iron ore mine in Western Australia.
Fenix Resources has increased the Iron Ridge MRE by 8.5 million tonnes taking it to 13.4 million tonnes at 64.9 per cent iron.
This includes 4.3 million tonnes at 65.9 per cent iron in the Indicated category and 9 million tonnes at 64.4 per cent iron as Inferred.
The company said it had maintained high-grade and continuity of the Iron Ridge ore body with potential for further resource base expansion.
Fenix declared the updated MRE enhances the company’s geological confidence for the project and provides a basis for future exploration and updated mine planning and Ore Reserve Estimate updates.
“Maintaining our excellent high-grade iron ore production from Iron Ridge is a priority for Fenix,” Fenix Resources executive chairman John Welborn said in the company’s ASX announcement.
“The success of our recent exploration program has significantly improved our understanding of the deposit and the addition of more than eight million tonnes of high-grade iron ore to our mineral resource estimate provides a strong foundation for future growth.
“Fenix is committed to unlocking the full potential of the remarkable Iron Ridge ore body and we are confident in our ability to continue our strong mining and operational performance while respecting and preserving important heritage areas.
“We are on track for an exciting 2025 with an expected mine plan update for Iron Ridge, ongoing production from the Shine Iron Ore Mine, and the commencement of production from our third operating mine at Beebyn-W11.
“We continue to look for further opportunities to expand our operations to deliver long-term value for all our stakeholders.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
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
Fenix Resources (ASX: FEX) chairman John Welborn zoomed into The Resources Roadhouse to tell Wally Graham about the company’s recent achievements at its Iron Ridge iron ore project in the Mid West region of Western Australia and to provide an update on the acquisition of important infrastructure.
THE BOURSE WHISPERER: Fenix Resources (ASX: FEX) added the strongest string yet to its iron ore bow with the acquisition of Mount Gibson Iron Limited’s Mid-West iron ore, port and rail assets near Geraldton in Western Australia.
The Mid-West assets Fenix has acquired include the Shine iron ore mine, two on-wharf bulk material storage sheds at Geraldton Port, two rail sidings at Ruvidini and Perenjori, and mining assets and obligations at the Extension Hill iron ore mine.
Fenix itemised the benefits the acquisition of the iron ore and port assets provides to be:
• reduce the cost of the company’s existing Iron Ridge production;
• expand production from Iron Ridge;
• re-commission the Shine iron ore mine as a second production asset;
• create a substantial new revenue generating business from the provision of logistics solutions to existing and future Mid-West bulk commodity producers; and
• benefit from the expected growth in bulk commodity production and export in the Mid-West.
“Acquiring Mount Gibson’s Mid-West iron ore and port assets is a game changer,” Fenix Resources chairman John Welborn said in the company’s ASX announcement.
“We are extremely excited about the start of a new chapter for Fenix.
“We are delighted to be continuing the successful legacy of Mount Gibson in the Mid-West and to have their support as a large shareholder.
“This transformational event for Fenix will drive material economies of scale, provide flexibility to expand iron ore production and operate new projects concurrently.
“In expanding a mine-to-port logistics solution for ourselves and other producers in the Mid-West, we also create employment opportunities which will strongly support regional economic growth and create exceptional shareholder value.”
