Fenix conquers shipment hurdles

The Iron Ridge operation in Western Australia. Image: Fenix Resources

Fenix Resources has set sail with its maiden iron ore shipment from the Iron Ridge project in Western Australia after overcoming mechanical issues.

The Ya Tai 2 vessel left the Port of Geraldton after encountering issues on the carrier that led to an oil spill at the port.

It has now departed with a reduced quantity of 37,147 wet metric tonnes of cargo to allow the vessel to set sail.

This consists of 11,000 tonnes of lump and 26,156 tonnes of fines at the forecast grade specification of 63.3 per cent and 61.5 per cent, respectively.

“Fenix wishes to acknowledge the support and cooperation of the Mid West Ports Authority in allowing the cargo to be loaded, while ensuring no further issues,” the company stated in an ASX announcement.

Fenix’s next carrier is due to arrive next week, with sufficient products ready for the shipment.

The company produces direct shipping ore deposit that requires only crushing and screening.

It has struck offtake agreements with Sinosteel International Holding Company and Atlas Iron.

High grade iron ore attracts a premium price on the seaborne market due to the requirement for lower emissions from increasing Chinese steel works, according to Fenix.

The company delivered its first production in December last year.

The Iron Ridge project is around 490 kilometres by road from Geraldton Port, the closest port to the project.

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