Fenix, an iron ore mining company, reported a significant increase in production for the year ended 30 June 2026, shipping 4.4 million tonnes, a substantial rise from the previous year’s 2.4 million tonnes per annum (Mtpa). The company also highlighted its commitment to maintaining a safe work environment, with a total recordable injury frequency rate (TRIFR) of 9.2, a slight improvement from the previous year’s 10.9.
Material actions and disclosures
Fenix’s Iron Ridge and Shine mines are approaching the end of their current mine plans, with production being progressively replaced by expanded output from the Beebyn-Hub project. The company successfully commissioned the Beebyn-W11 deposit, achieving steady state production during FY26. Additionally, Fenix is constructing a 5Mtpa Crushing and Processing Plant at the Beebyn-Hub, with production expected to commence in the second quarter of FY27.
The company’s rehabilitation and mine closure provisions increased to $13.85 million, reflecting the discounted value of the present obligation to restore, dismantle, and rehabilitate certain items of mine properties, property, plant, and equipment.
Forward commitments
Fenix aims to target total iron ore sales of 4.7Mt to 5.3Mt at a C1 cash cost of between $70/wmt and $80/wmt FOB Geraldton for FY27, maintaining cost guidance at FY26 levels and consistent with the 3-Year Production Plan for FY26 to FY28.
The company also announced a final fully franked dividend of 1¢ per share, equating to a total dividend payment of approximately $7.7m (63% of NPAT), demonstrating Board confidence in the balance sheet and earnings trajectory.
Fenix’s remuneration framework for FY26 was reviewed by Remsmart Consulting Services Pty Ltd, ensuring the company’s remuneration remained competitive and fit-for-purpose in light of the company’s continued growth in size and operational complexity.
These actions and commitments reflect Fenix’s ongoing efforts to balance production growth with safety and environmental management.
Attributed to the Fenix 2026 Annual Report.