Australia-based iron ore producer Fenix Resources Limited has announced that it has signed a binding agreement with Australian iron ore company 10M Pty Ltd for the exclusive right to purchase and export up to 500,000 mt of high-grade hematite iron ore from the Twin Peaks Direct Shipping Iron Ore project in the Murchison region of Western Australia within a 24-month period.
Fenix will be responsible for all haulage, port logistics, and marketing activities upon transfer of ore.
The agreement will boost Fenix Resources’ iron ore production and revenues with first shipment of iron ore from Woolbung Peak expected in early 2024.
