• Athena, Warradarge Energy and Fenix to establish a new Mid West Green Iron Project
• Project aims to produce green iron products using local ultra-high grade iron ores and green hydrogen
• New company Mid West Green Iron Pty Ltd to be established as the project development vehicle

Athena Resources Limited (ASX: AHN), Warradarge Energy Pty Ltd, and Fenix Resources Limited (ASX:FEX) have signed a Memorandum of Understanding agreement to establish a new Mid West Green Iron Project in Western Australia. The project aims to ultimately produce commercial quantities of direct reduction iron ore products using locally mined mid-west ultra-high grade iron ores and locally produced green hydrogen. A new company, Mid West Green Iron Pty Ltd, will be established with equal shareholdings between the three parties to act as the project development vehicle. The project is intended to be developed in stages, with Athena's main role being the initial provision of ore samples from its Byro Magnetite Project to trial suitable green iron technologies, and potentially providing high-grade magnetite concentrate for the project. Warradarge Energy will focus on developing its Warradarge Green Hydrogen Project to supply green hydrogen, while Fenix will provide regional logistics solutions. The project aims to leverage the unique assets and capabilities of the three regional entities to successfully develop a Mid West Green Iron Project.

The Parties will work to further define the project through targeted technical studies and may establish commercial agreements to secure the foundational rights of the Project, such as land, power, iron ore, water, hydrogen, transport services and other project inputs. A key area of partnership will be advocacy for favourable policies to support the development of green iron projects as well as the identification of potential sources of finance to enable the Project.