Australian mining company Fenix Resources' iron ore production in Q3 increased by 107% YoY.

Published: Oct 17, 2025 08:24

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On October 16, 2025, Australian iron ore producer Fenix Resources released its Q3 2025 operational report (i.e., Q1 of the Australian 2026 fiscal year). The company achieved multiple operational milestones during the quarter and signed a major mining agreement, laying the foundation for future production expansion.

Iron Ore Shipments:In Q3 2025, the company completed 15 shipments, with total iron ore shipments reaching 885,000 mt, up 17% QoQ and 156% YoY, setting a new company record for quarterly shipments. By mine, shipments from the Iron Ridge project were 354,000 mt, the Shine project contributed 415,000 mt, and the Beebyn-W11 project contributed 117,000 mt. By product, lump ore shipments were 467,000 mt, up 47% QoQ and 198% YoY; fines shipments were 419,000 mt, up 6% QoQ and 121% YoY.

Iron Ore Production:In Q3 2025, the company mined 964,000 mt of iron ore, up 13% QoQ and 107% YoY.

Costs and Operations:The company's Q3 C1 cost was 75.7 Australian yuan/wmt (approximately $50/wmt), up 27.2% QoQ but down 4% YoY. Additionally, the company maintained a robust cash position, with a quarterly cash balance of 57.7 million Australian yuan (approximately $38.6 million). The company invested 13.1 million Australian yuan (approximately $8.8 million) during the quarter for the commissioning and construction of the Beebyn-W11 project and made a 20 million Australian yuan (approximately $13.4 million) upfront payment for the Weld Range project.

Project Updates:In September this year, Fenix signed a 30-year Mining Right Agreement with Sinosteel Midwest Corporation (SMC), a subsidiary of Baowu Group, formally granting Fenix exclusive mining and export rights for the Weld Range iron ore project (with resources of approximately 290.3 million mt and an average grade of 56.77% Fe). According to the agreement, Fenix must maintain an annual production target of no less than 6 million mt and will collaborate with Baowu on market aspects to jointly pursue an export sales target of approximately 10 million mt per year. Furthermore, project development will proceed in phases: a Scoping Study is scheduled for completion in Q4 2025 to determine the overall development direction; this will be followed by a more detailed Feasibility Study (FS), expected to be completed in Q2 2026, providing the technical and economic basis for the final investment decision.

FY2026 Guidance:The company's iron ore shipment target for FY2026 is 4-4.4 million mt, with a C1 cash cost target of 70-80 Australian yuan/wmt (approximately $46-54/wmt).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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