Fenix Resources Limited ( (AU:FEX) ) has provided an update.
Fenix Resources Limited has commenced construction at its new Beebyn-W11 Iron Ore Mine in the Weld Range, marking the company’s third mining operation in the Mid-West. The project includes developing infrastructure and a private haul road to connect with existing operations, aiming to boost total production to 4 million tonnes per annum by 2025. The Beebyn-W11 mine, with a planned production rate of 1.5 million tonnes per annum, is expected to begin production in the September 2025 quarter. This development is part of Fenix’s strategy to enhance its market position by leveraging high-quality iron ore deposits and integrated transport solutions.
More about Fenix Resources Limited
Fenix Resources Limited is an Australian company operating in the iron ore mining industry. It focuses on the extraction and export of high-quality iron ore, primarily from its operations in Western Australia’s Mid-West region. The company aims to achieve a significant production rate by integrating its mining operations and transport logistics.
YTD Price Performance: 2.67%
Average Trading Volume: 4,800
Technical Sentiment Signal: Strong Sell
Current Market Cap: €122.3M
Learn more about FEX stock on TipRanks’ Stock Analysis page.