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Fenix Resources has commenced mining at its Beebyn Hub in Western Australia’s Mid West, with a maiden ore reserve of 26.9 million tonnes at 60 per cent iron, supporting more than five years of mine life at current production rates.
The company reported the milestone in its September 2026 quarterly report, alongside the commissioning of a new five million-tonne-per-annum (Mtpa) crushing and screening plant and the completion of substantial infrastructure works at the hub.
The September quarter marked a major transition for Fenix as mining continued at Beebyn W11 and commenced at Beebyn W10, within the broader 290 million-tonne Weld Range iron ore project.
Fenix executive chairman John Welborn said the period represented an important growth phase for the business, despite lower iron ore prices, higher fuel costs and seasonal disruptions at Geraldton Port.
“We successfully commissioned another new Fenix iron ore mine at Beebyn W10, established new long-term Beebyn Hub infrastructure, and announced our largest ore reserve ever,” Welborn said.
The company recorded total material movement of 5.59 million wet metric tonnes during the quarter, a record for Fenix. Ore mined increased to 907,000 wet metric tonnes, up from 844,000 tonnes in the June quarter.
Fenix shipped 1.097 million wet metric tonnes of iron ore across 18 vessels, down from 1.299 million tonnes in the previous quarter as the business transitioned to Beebyn Hub production and managed seasonal disruption at Geraldton Port.
Group C1 cash costs rose to $81.80 per wet metric tonne, above the company’s 2027 financial year (FY27) guidance range of $70–80 per tonne. Fenix attributed the increase to lower shipment volumes during the transition, port disruption and higher diesel costs. It expects unit costs to return within guidance in the second half of FY27 as volumes normalise and the new plant reaches full capacity.
Fenix maintained its FY27 sales guidance of 4.7–5.3 million tonnes, with C1 cash costs of $70–80 per wet metric tonne.
Fenix invested $24 million in capital expenditure during the period, including $19 million in Beebyn Hub infrastructure, and made a second $20 million Right to Mine payment to Sinosteel.
The definitive feasibility study for the broader Weld Range project, which is targeting production of 10Mtpa, is now expected to be completed in the first half of 2027. Fenix said the revised timing would allow the Western Australian government to provide further details on plans to restructure ownership of the state’s regional below-rail freight network.
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