Fenix Resources: Evolving into a Multi-Mine Powerhouse

Fenix Resources (ASX: FEX) has delivered a record performance in FY25, achieving 2.4 million tonnes of iron ore shipments, a 64% increase from the prior year. The company transitioned from a single-mine operation to a three-mine producer, with Iron Ridge maintaining steady output, Shine exceeding restart expectations, and Beebyn-W11 successfully commissioned on time and budget. Despite weaker iron ore prices, Fenix generated EBITDA of AU$54.3 million and operating cash flow of AU$71.9 million, ending the year with AU$56.8 million in cash. Strategic investments included increasing its stake in Athena Resources and advancing its Mid-West Green Iron Project, supporting steel decarbonisation opportunities. Backed by expanded logistics and port operations, Fenix announced a fully franked dividend of 1 cent per share. Entering FY26, the company targets 4.0–4.4Mt sales at competitive costs, positioning itself for strong growth and sustained returns.

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