Fenix Posts 1.2Mt Iron Ore Shipment and A$21m Cash Increase in December Quarter
Fenix Resources has achieved a record quarterly iron ore shipment of 1.2 million tonnes, driving a strong cash increase to A$79 million and reaffirming its FY26 production guidance.
- Record 1.2 million wet metric tonnes shipped in December quarter
- Cash position increased by A$21 million to A$79 million
- FY26 iron ore sales guidance reconfirmed at 4.2 to 4.8 million tonnes
- Integrated mining, logistics, and port operations underpin performance
- Weld Range Project feasibility study due mid-2026
Record Quarterly Shipment Milestone
Fenix Resources Ltd (ASX, FEX) has delivered a standout performance in the December 2025 quarter, shipping a record 1.241 million wet metric tonnes of iron ore. This marks the company’s first quarter surpassing the one million tonne mark and sets a new benchmark for its operational capabilities. The shipment volume, spread across 21 vessels, translates to an annualised production run-rate nearing 4.9 million tonnes, showcasing the scalability of Fenix’s integrated mining and logistics model.
Strong Cash Position Reflects Operational Success
The surge in shipments has translated into a robust financial position, with cash at bank rising to A$78.9 million by the end of December 2025. This represents a net increase of A$21.2 million over the quarter, after accounting for capital expenditure, debt repayments, and taxation. The cash build underscores the company’s ability to convert operational efficiencies into tangible financial strength amid a favourable iron ore price environment.
Reaffirmed FY26 Guidance and Growth Outlook
Fenix has reconfirmed its FY26 guidance for total iron ore sales between 4.2 and 4.8 million tonnes, supported by the strong first half performance totaling 2.127 million tonnes. This guidance assumes normal market conditions and no significant operational disruptions. Beyond the near term, the company is advancing its Weld Range Project, with a Definitive Feasibility Study expected by June 2026. The project promises a pathway to a 10 million tonnes per annum operation, potentially lowering cash costs and extending the company’s production horizon well beyond FY28.
Integrated Operations Driving Efficiency
Fenix’s success is built on a fully integrated pit-to-port model encompassing mining operations across multiple Mid-West iron ore assets, a wholly owned haulage business (Newhaul Road Logistics), and port logistics facilities at Geraldton. This integration enables streamlined operations, cost control, and scalability, positioning Fenix well to capitalize on market opportunities and execute its growth strategy.
Community and Strategic Partnerships
The company continues to foster strong relationships with local stakeholders, including the Wajarri Yamaji people, and supports regional employment with over 300 jobs created. Fenix’s commitment to sustainable development and local partnerships complements its operational ambitions, reinforcing its position as a significant player in Western Australia’s iron ore sector.
Bottom Line?
Fenix’s record shipments and cash growth set the stage for a pivotal 2026 as the Weld Range Project feasibility study approaches.
Questions in the middle?
- How will iron ore price fluctuations impact Fenix’s ability to meet FY26 guidance?
- What are the key risks and timelines associated with the Weld Range Project’s Definitive Feasibility Study?
- Can Fenix sustain its operational momentum and scale to 10Mtpa as planned?
