Fenix Resources expands operations

Fenix Resources (ASX:FEX) has announced the acquisition of the Beebynganna Hills Iron Ore Project and has applied for a new exploration tenement named Beebyn North. These additions in the Weld Range, Western Australia, significantly enhance Fenix's strategic mining holdings. The acquisitions are expected to support the company's plan to boost production from 1.3 million tonnes to 4 million tonnes annually by 2025.

Fenix Resources' strategic expansion and future outlook

Fenix Resources' recent acquisition of the Beebynganna Hills Iron Ore Project and application for Beebyn North mark a strategic expansion of their mining operations in the Weld Range. The areas are known for potential high-grade hematite deposits, with previous samples recorded up to 65% Fe. Located near Fenix's current operations, these tenements offer potential for resource expansion and infrastructure utilization. The company plans to ramp up production to 4 million tonnes annually by 2025 and further explore the Weld Range's untapped potential. Future exploration will focus on validating and mapping hematite targets, supported by Fenix's integrated mining, logistics, and port services. The company is committed to stakeholder engagement and fostering partnerships with local communities.

Executive commentary on strategic acquisition

The acquisition of the Beebynganna Hills Iron Ore Project, along with the application for Beebyn North, represents a significant step forward in expanding our resource base and operational capabilities in Western Australia. We are excited about the potential of these new tenements, particularly given the historical high-grade hematite deposits in the region. This strategic expansion aligns with our ambition to increase production and leverage our existing infrastructure efficiently. We remain committed to engaging with local communities and stakeholders as we explore and develop these assets.