Fenix Resources Ltd (ASX:FEX) has established a maiden 26.9 million tonne Ore Reserve grading 60.0% iron at its Beebyn Hub in Western Australia’s Mid-West, strengthening the production base for its broader 290 million tonne Weld Range Iron Ore Project.
The reserve combines an updated 13.1Mt at 61.2% Fe reserve at the operating Beebyn-W11 mine with a maiden 13.8Mt at 58.9% Fe Stage 1 reserve at the fully approved Beebyn-W10 mine.
The inventory provides more than five years of mine life at current production rates and supports its three-year plan to lift sustainable Beebyn Hub production to as much as 6 million tonnes per annum by the financial year ending June 2028.
Fenix executive chair John Welborn said: “The maiden Ore Reserve for the Beebyn Hub provides more than 5 years of mine life at our current production rate.
“Completion of the Weld Range Definitive Feasibility Study is expected to further materially boost Ore Reserves consistent with the Scoping Study published in December 2025 outlining a 10Mtpa production profile out to 2042.
“With established mining operations, existing infrastructure, world-class logistics, and crucial port facilities already in place, Fenix’s ability to continue to upgrade our Mineral Resources and Ore Reserves profile provides a strong platform to continue to grow production and deliver exceptional shareholder returns.”
Beebyn Hub anchors Weld Range growth
The Beebyn Hub is being developed as a centralised mining and processing centre combining the existing W11 operation with the new W10 mine, creating what Fenix sees as a long-term operational platform within the wider Weld Range project.
Beebyn-W10 has a separately reported Mineral Resource Estimate of 47.7Mt at 59.0% Fe, while Beebyn-W11 hosts 19.7Mt at 61.0% Fe.
Ore will be mined using conventional open-pit methods and processed through onsite crushing and screening to produce lump and fines direct shipping ore products, with no beneficiation required.
The hub forms part of Fenix’s strategy to expand production beyond its current rate of more than 5Mtpa and ultimately establish a 10Mtpa integrated iron ore business.
What's next
Mining approvals for Beebyn-W10 Stage 1 are already in place, with Fenix targeting the start of ore production during the current quarter and the first shipment in the December 2026 quarter.
Beyond the initial Beebyn development, a Definitive Feasibility Study for the wider Weld Range Project is underway and is expected to support a final investment decision during 2028.
The earlier Weld Range Scoping Study outlined the potential for a 10Mtpa production profile extending to 2042, although that target incorporates 11% Inferred Resources and remains subject to further technical work and development decisions.
About Fenix Resources
Fenix is an integrated mining, logistics and port services company operating three iron ore mines in Western Australia’s Mid-West.
Its iron ore is transported to Geraldton through its wholly owned Fenix Road Logistics business, while Fenix Port Logistics operates storage and loading facilities at Geraldton Port with 10Mtpa of export capacity.