Fenix adds to hedge book
PERTH (miningweekly.com) – Iron-ore miner Fenix Resources has signed a new iron-ore hedging contract covering 10 000 t/m of iron-ore between July and December this year.
The new contracts have been added to the company’s existing hedging arrangements which now stand at 50 000 t/m between July 2023 and December 2023 at a fixed price of A$170.10/t.
Fenix this week struck a A$25-million agreement with fellow-listed Mt Gibson Iron to acquire its Mid-West iron-ore mining and infrastructure assets, including the Shine iron-ore mine, which is currently on care and maintenance and is estimated to host a mineral resource of 15-million tonnes.
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