Australian Miner Fenix Sets 6 Million mt Production Target for Fiscal Year 2028

Recently, Australian iron ore producer Fenix Resources Limited (abbreviated as Fenix) disclosed in its latest announcement that the company has formulated a three-year production plan. According to the plan, Fenix has raised its iron ore production guidance for FY2026 (covering the natural year period from July 1, 2025, to June 30, 2026) to 4.2–4.8 million mt, up from the previous guidance of 4–4.4 million mt. On this basis, the company plans to gradually increase production, with expected iron ore production for FY2027 of approximately 4.7–5.3 million mt, and aims to achieve an annualized production level of 5.4–6 million mt in FY2028.

The company stated that current iron ore production primarily comes from the Iron Ridge and Shine mines. As resources are gradually depleted and development progresses, the company's operational focus will shift to the Weld Range project in Western Australia. The Weld Range project has iron ore resources of approximately 290 million mt, with an average iron grade of about 56.8%, and consists of direct shipping hematite ore resources. Within the project, the Beebyn Hub is the high-grade core mining area, with some ore bodies having an iron grade above 61%, and it is positioned as the main support for medium and long-term production growth.

Fenix pointed out that the related expansion plans will make full use of existing mining, transportation, and port infrastructure, and will be supported by operating cash flow and existing financing arrangements. The future capacity has the potential to be further increased to 10 million mt per year.