• Fenix partners with Mira Bulk to form Fenix-Mira Bulk freight partnership
• Targeting lower shipping costs for iron ore products
• Secured US$44m in long-term funding facilities with ResInvest
• Expansion of iron ore sales through ResInvest's international marketing network

Fenix Resources Ltd (ASX: FEX) has announced a partnership with Mira Bulk Pte Ltd to form the Fenix-Mira Bulk freight partnership aimed at reducing shipping costs for Fenix's iron ore products. Under this arrangement, Fenix will earn a share of profits based on the volume of iron ore shipped. Mira Bulk, a global bulk vessel operator specializing in Panamax vessels, is jointly owned by ResInvest and Vaiana Shipping Limited. The partnership has enabled Fenix to secure $44 million in long-term funding facilities with ResInvest, replacing existing short-term prepayment facilities. This funding supports Fenix's Three-Year Production Plan targeting production of 4.2 to 4.8 million tonnes in FY26, increasing to up to 6.0 million tonnes in FY28. The partnership will also expand Fenix's iron ore sales activities through ResInvest's international marketing connections.

Fenix targets production of 4.2-4.8Mt in FY26, increasing to 6.0Mt in FY28

Fenix expects significant benefits from the partnership, including increased shipping market transparency, access to more appropriate vessels, and a material reduction in shipping costs.