With a forecasted production rate of 1.5 million dry metric tonnes (dmt) per annum, Fenix is well on its way to building a new iron ore mine at its BeebynW11 deposit in Western Australia.
Fenix has already completed the feasibility study for the development of the mine, demonstrating the project will provide strong returns over a seven year mine life.
Fenix has held exclusive rights to mine up to 10 million dmt of iron ore from the deposit since it signed a binding agreement with Sinosteel Midwest Corporation in October 2023.
Since then, the company has been progressing the area and completing regulatory checks to get it ready for mining.
“Beebyn-W11 will be Fenix’s third operational iron ore mine in Western Australia’s Mid-West,” Fenix executive chairman John Welborn said.
“The feasibility study demonstrates that Beebyn-W11 is an outstanding high‐grade opportunity, which will generate strong financial returns in the forecast iron ore market.
“The robust economic outcomes are supported by low initial capital costs and Fenix’s strategic infrastructure advantage.”
Located only 20km from Fenix’s current mining operations at Iron Ridge, Beebyn-W11 provides an opportunity to boost mining production, extend the life of regional operations and further reduce costs.
“We are committed to a growth trajectory and our vision of increasing mine production to deliver exceptional value to our shareholders,” Welborn said.
“It’s an exciting time for Fenix with Iron Ridge continuing to perform strongly, the recommissioning of the Shine iron ore mine underway, and Beebyn-W11 expected to commence production in early 2025.
“Further opportunity exists to expand our operations and we continue to seek additional Fenix mining projects as well as investigate the potential to provide third-party logistics solutions to future project partners.”
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