Australia-based iron ore producer Fenix Resources has announced that its iron ore shipments increased by 83 percent year on year to a record 4.4 million mt in the financial year ended June 30, 2026, supported by higher mining and haulage capacity as well as improved coordination across its integrated pit-to-port operations.
During the given period, the company's revenue rose by 87 percent year on year to A$589.7 million, while its EBITDA increased by 49 percent to A$80.7 million. Fenix recorded a net profit of A$12.3 million, up 128 percent, and generated an operating cash flow of A$95.9 million. Its cash balance stood at A$81.0 million at the end of the financial year.
Fenix mined 3.98 million mt of iron ore and hauled 4.42 million mt, representing increases of 53 percent and 74 percent, respectively. Its C1 cash cost edged up to A$73.70/mt from A$72.80/mt in the previous financial year, while its average realized iron ore price increased to A$146.80/dmt.
Fenix Resources' lump iron ore shipments increased by 84 percent year on year to 1.99 million mt in the financial year 2025-26, while its iron ore fines shipments rose by 82 percent to 2.41 million mt.
The company stated that the commissioning of its Beebyn-W11 mine and the acquisition of mining rights for the 290 million mt Weld Range iron ore project have strengthened its expansion strategy. Fenix aims to produce up to six million mt annually by the financial year 2027-28, while a feasibility study is assessing a longer-term increase to 10 million mt per year.
For the financial year 2026-27, Fenix expects iron ore sales of 4.7-5.3 million mt at a C1 cash cost of A$70-80/mt FOB Geraldton. The company's new five million mt per year crushing and processing plant at the Beebyn Hub is scheduled to start production in the second quarter of the current financial year.
