Australian miner Fenix Resources has unveiled a three-year production strategy that will significantly expand iron ore production in Western Australia's Mid West, with Weld Range positioned as the company's new long-term growth anchor. Phoenix said the plan calls for a phased transition from the Iron Ridge and Shine mines to a consolidated production hub at the Weld Range, supporting growth to 6 million tons per year by fiscal year 2027-28.
Output nearly tripled from fiscal years 2024-25
Fenix delivered 2.4 million tons of iron ore to 2024-2025 financial year and has now raised its forecast for the next financial year to 4.2-4.8 million tons. The company expects production to rise to 4.7-5.3 million tonnes in FY 2026-27 and reach 5.4-6.0 million tonnes in FY 2027-28, largely driven by capacity expansion at the Beebyn hub.
Fenix said 100 percent of the approximately 15 million tonnes planned for production over the next three financial years will be sourced from existing ore reserves or measured and of said resources, providing what it calls "high confidence" in near-term growth assumptions.
Production at the Iron Range is scheduled to be completed in fiscal year 2025-26, with processing of remaining reserves extending through fiscal year 2026-27. Shine's Phase 1 plan will also be completed during the 2025-26 fiscal year, excluding Phase 2 tonnage in the current production forecast.
