Key points
- Maiden Ore Reserve for Beebyn Hub of 26.9 Mt at 60.0% Fe
- Beebyn Hub supports Fenix's 3-Year Production Plan
- Ore Reserves provide more than 5 years of mine life at current production rates
- Plans in place for significant further growth in Weld Range Project Ore Reserves
Full summary
FENIX Resources Ltd has announced a maiden ore reserve for the Beebyn Hub, comprising an updated Beebyn-W11 Mine Ore Reserve of 13.1 Mt at 61.2% Fe and a maiden Beebyn-W10 Mine Stage 1 Ore Reserve of 13.8 Mt at 58.9% Fe. The Beebyn Hub, a centralized mining and processing production centre, combines the existing Beebyn-W11 iron ore mine with the new Beebyn-W10 iron ore mine, providing a long-term operational platform within Fenix's Weld Range Iron Ore Project. The new ore reserves support Fenix's 3-Year Production Plan, aiming for sustainable production of up to 6Mtpa from the Beebyn Hub by FY28. Fenix now has ore reserves that provide more than 5 years of mine life at current production rates, with plans in place for significant further growth in Weld Range Project Ore Reserves.
Guidance
Fenix aims to establish sustainable production of up to 6Mtpa from the Beebyn Hub by FY28
Outlook
Fenix continues to upgrade its confidence in the long-term production outlook of the available high-grade iron ore resources of the Project consistent with the current 3-Year Production Plan and the ambition to grow production to 10Mtpa by 2031.