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Fenix Resources (FEX) investor relations material

Fenix Resources Status Update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Status Update summary15 Dec, 2025

Three-year production plan and growth targets

  • Production to increase from 2.4 Mt in FY25, 4.2–4.8 Mt in FY26, 4.7–5.3 Mt in FY27, and 5.4–6 Mt in FY28, targeting a 6 Mtpa run rate by FY28.

  • Transition from Iron Ridge and Shine to Weld Range (W11 and W10/Beebyn Hub), with Iron Ridge closing by FY26 and Shine Stage 1 completing in early FY27.

  • All ore to be mined from existing reserves or measured and indicated resources, with 60% from Ore Reserves and 40% from Measured/Indicated Mineral Resources.

  • Plan fully funded from operational cash flows, cash reserves, and existing finance facilities; sustaining capital estimated at AUD 35–45 million.

  • Production ramp-up supported by existing mining, logistics, and port infrastructure.

Strategic agreements and growth initiatives

  • Secured a 30-year exclusive right to mine Weld Range via agreement with Sinosteel Midwest Corporation, a Baowu subsidiary.

  • Commitment to achieve and maintain 6 Mtpa production, with a target to expand to 10 Mtpa in collaboration with Baowu.

  • Feasibility and scoping studies underway for expansion to 10 Mtpa, including a second processing hub at Madoonga, with results expected by June 2026.

  • Opportunities identified for haulage and shipping cost reductions and strategic infrastructure development.

  • Collaboration with Baowu and Sinosteel supports long-term growth, including potential development of Jack Hills and further Weld Range expansion.

Capital and operational efficiency

  • Haulage fleet to expand from 70 to 90 trucks to support increased production.

  • Beebyn Hub crushing capacity to expand from 3 Mtpa to 6 Mtpa by FY28, with staged capital allocation.

  • Sustaining capital mainly covers incremental mining (AUD 15–20 million), port improvements, and logistics upgrades; fleet expansion funded separately.

  • Additional mobile equipment to be financed separately; no material cost changes expected over the plan period.

  • Geraldton port facilities have capacity well above 10 Mtpa, requiring minimal additional capital for expansion.

What ore sources drive FY27-FY28 production ramp-up?
Why no C1 cost guidance for FY27 and FY28?
Identify key cost reduction opportunities beyond FY28.
Beyond Weld Range, what Baowu collaboration?
What drives future cost reduction beyond FY26?
Weld Range resource longevity beyond FY28?
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Frequently asked questions

Fenix Resources Ltd is an Australian iron ore mining company focused on the development and production of high-grade iron ore. The company’s primary asset is the Iron Ridge Project, located in Western Australia’s Mid-West region, which produces high-quality iron ore for export markets. Fenix Resources operates its own logistics chain, including road transport and port facilities, to manage the end-to-end process from mining to shipment. The company is headquartered in West Perth, Western Australia, and its shares are listed on the ASX.

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