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The latest announcement is out from Fenix Resources Limited ( (AU:FEX) ).
Athena Resources Limited has partnered with Warradarge Energy and Fenix Resources to establish a new Green Iron Project in Western Australia’s mid-west region. This collaboration aims to produce direct reduction iron ore products using locally sourced ultra-high-grade iron ores and green hydrogen, significantly reducing carbon emissions compared to traditional methods. The project will be developed in stages, with Athena providing ore samples and potentially high-grade magnetite concentrate from its Byro Magnetite Project. This initiative not only supports environmental sustainability but also positions the companies to capitalize on the growing demand for green iron, offering both local and export market opportunities.
The most recent analyst rating on (AU:FEX) stock is a Buy with a A$0.48 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
More about Fenix Resources Limited
Fenix Resources Limited operates in the mining industry, focusing on the extraction and production of iron ore. The company is involved in developing projects that leverage high-grade iron ores, with a particular emphasis on sustainable and innovative approaches to iron production.
YTD Price Performance: 9.43%
Average Trading Volume: 814,123
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$214.9M
For detailed information about FEX stock, go to TipRanks’ Stock Analysis page.