PERTH (miningweekly.com) – ASX-listed junior Fenix Resources has marked a major milestone, producing and selling two-million tonnes a year of iron-ore from its flagship Iron Ridge project, in Western Australia.
“The production and sale of two-million tonnes of high-quality iron-ore products from Iron Ridge is an outstanding achievement. In less than two years Fenix has established a highly profitable business in the Mid-West which has created more than 200 new jobs and generated more than A$100-million in cumulative net profits after tax,” said Fenix chairperson John Welborn.
“Fenix is maintaining consistent operating production at a run rate of approximately 1.3-million tonnes of iron-ore per annum and is working to deliver C1 free-on-board cash costs below $60/t. We have a strong hedge position out to June 2023 and are well placed to continue the company’s excellent production and sales performance and, importantly, deliver outstanding returns for shareholders.”