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Fenix Banks Record Iron Ore Shipments

mining
Apr 15, 2025
Article Source LogoAustralian Mining
Australian Mining

Fenix Resources has delivered record shipments for the March 2025 quarter, bolstered by the ramp-up of its Shine iron ore mine in Western Australia.

Fenix shipped a record 704,000 wet metric tonnes (wmt) of iron ore from its facilities at Geraldton Port across 12 vessels during the quarter, with 355,000wmt coming from Shine and 349,000wmt coming from the Iron Ridge operation.

Fenix also hauled 712,000wmt, with 370,000wmt coming from Shine and 341,000wmt Iron Ridge.

The company progressed site and fleet upgrades to support increasing mine production, including the new Beebyn-W11 mine, which commenced construction in April and is targeting first production in the September 2025 quarter.

“Fenix delivered a standout March quarter, marking a major step in our growth trajectory,” Fenix executive chairman John Welborn said.

“Shine is now in full production, Iron Ridge continues to perform, and our third mine, Beebyn-W11, is moving rapidly towards first production.”

Fenix launched a takeover bid for CZR Resources in late February, which would see Fenix acquire the Robe Mesa iron ore project in WA.

However, the Robe River Iron Associates joint venture, led by Rio Tinto, put forward an offer only days ago that was deemed “superior” by CZR.

While the final outcome of the hunger for CZR is to be determined, if Fenix comes out on top, the company’s vertically integrated mine-to-port business model is expected to have high value-creative implications for CZR shareholders.

Looking ahead, Fenix is hoping to achieve six shipments from Iron Ridge and seven shipments from Shine in the June 2025 quarter. The company remains on track to achieve its 2025 production rate of four million tonnes per annum.

“With strong margins, disciplined cost control, and more than $54 million in cash, Fenix is well-positioned to become a leading, fully integrated iron ore producer and logistics provider in Western Australia,” Welborn said. 

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