Fenix Resources has posted record quarterly iron ore shipments and lifted its production outlook for the year ahead as the company continues to scale up its integrated Mid West operations.
The company shipped a record 1.299 million wet metric tonnes (wmt) of iron ore during the June 2026 quarter, up 33 per cent on the March quarter, bringing total FY26 shipments to 4.4 million wmt.
The result met Fenix’s updated FY26 production guidance of 4.2–4.8 million wmt, which was increased in December 2025 from the original 4.0–4.4 million wmt range.
Fenix attributed the record performance to optimised mining across its Mid West iron ore assets, efficient haulage operations and streamlined port operations at Geraldton Port supported by its dedicated on-wharf storage capacity.
The company finished the financial year with $81 million in cash, down slightly from $86.3 million at the end of March after capital expenditure, debt repayments and taxation payments during the quarter.
Fenix said stronger production volumes offset higher diesel prices and freight costs stemming from the US-Iran conflict, allowing it to maintain a cash position broadly in line with the previous quarter.
Looking ahead, Fenix is targeting FY27 iron ore sales of between 4.7 million and 5.3 million wmt, representing a 14 per cent increase at the midpoint compared with FY26 shipments.
The company expects C1 cash costs of $70–80 per wmt free on board (FOB) Geraldton, maintaining the same cost guidance as FY26 despite ongoing market volatility.
Fenix will release its full June 2026 Quarterly Activities Report later this month, followed by an investor webinar.
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