Australian iron ore producer Fenix Resources has announced that its iron ore shipments in the third quarter of the financial year 2026 ended March 31 were negatively impacted by the closure of Geraldton Port in Western Australia due to Tropical Cyclone Narelle.
In the given quarter, the company’s iron ore shipments fell by 22 percent to 973,600 mt compared to 1.24 million wet metric tonnes (wmt) recorded in the previous quarter. The company stated that two shipments totaling approximately 120,000 wmt, which were scheduled for March, were deferred to April due to the cyclone. In the given period, shipments from the Iron Ridge mine rose by five percent quarter on quarter to 372,200 wmt, while shipments from the Shine mine declined by 50 percent to 239,800 wmt and Beebyn-W11 shipments decreased by 12 percent to 361,600 wmt.
In the same period, Fenix’s iron ore output decreased by six percent to 992,500 mt compared to 1.06 million wmt recorded in the previous quarter, while the volume of processed iron ore rose by nine percent to 1.24 million wmt. The volume of hauled iron ore remained stable at 1.06 million mt.
The company’s cash cost in the given quarter fell by seven percent quarter on quarter to A$70/wmt, standing at the lower end of its cost guidance. Fenix stated that the improvement in costs was due to the use of material stockpiled in previous quarters, but added that higher diesel fuel prices caused by the crisis in the Middle East are expected to put pressure on costs in the June quarter.
Fenix maintained its total iron ore sales guidance for the financial year 2026 at 4.2-4.8 million wmt, while also keeping its group C1 cash cost guidance unchanged at A$70-80/wmt FOB Geraldton.
The company also stated that the definitive feasibility study for its Weld Range iron ore project is progressing and is expected to be completed in the second half of the calendar year 2026. According to Fenix, the Weld Range project plays an important role in the company’s plan to increase its long-term production to 10 million mt per year.
