Two mine completions and the ramp up to six million tonnes per annum (Mtpa) in one iron project are all in the books for Fenix Resources as it unveiled its three-year production plan.
Targeted for the financial years (FY) of 2026, 2027, and 2028, the miner aims to complete operations at the Iron Ridge and Shine iron ore mines, with the transition from Beebyn-W11 and nearby Beebyn hub in the Weld Range growing from 5.4Mt to the projected 6Mtpa in FY28.
Scheduled output across FY26 to FY28 totals roughly 15 million tonnes of ore, mined from existing ore reserves and measured and indicated resources.
Guidance for FY26 has also been lifted to 4.2–4.8Mt at a C1 cash cost of $70–$80 per tonne, marking an immediate uptick from the 2.4Mt produced in FY25 as the company begins shifting its production base.
Fenix said the plan outlines a conservative but high-confidence ramp-up, supported by the company’s existing infrastructure network, from road haulage and rail load-out to its Newhaul Road Logistics-operated storage and export facilities in Geraldton Port.
Fenix executive chairman John Welborn said the company has a “clear and exciting” plan to create exceptional value for its shareholders by delivering on its growth objectives.
“Having secured the 290 million tonne Weld Range project, we are now centralising our mining activities and ramping up our production while we work on a feasibility study to transform the business,” he said.
“The three-year plan confirms our near-term growth ambitions and will provide a strong revenue base for Fenix to become a larger, more profitable and sustainable iron ore producer.
“This growth plan is organic and, consistent with our successful track record of incremental growth, capable of being fully funded from our operational cash flow and existing finance facilities.”
Welborn said this outlook is underpinned by realistic production forecasts and cost assumptions, with a focus on maximising Fenix’s existing infrastructure assets in Western Australia’s (WA) mid-west region.
Mining at Iron Ridge is scheduled to conclude during 2026, with stockpiles extending processing into FY27, while Shine’s stage 1 mine plan will wrap up in early FY27.
From there, production consolidates at the Weld Range, with the Beebyn hub emerging as the centrepiece of Fenix’s portfolio.
Crushing capacity at the hub is set to expand from 3Mtpa to 6Mtpa by FY28, supported by the commencement of mining at Beebyn-W10 once approvals are secured in mid-2026.
The ramp-up also fulfils key obligations under Fenix’s 30-year right-to-mine agreement with Sinosteel Midwest Corporation, a subsidiary of China’s Baowu Steel Group, which grants exclusive access to the greater Weld Range resource, a global 290Mt iron ore inventory.
The agreement outlines a pathway towards sustaining 6Mtpa and collaborating on potential future export volumes of up to 10Mtpa.
A Weld Range scoping study is due this quarter, followed by a full feasibility study in 2026, as Fenix continues to evaluate further production expansion and cost-reduction opportunities across its mid-west footprint.
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