Fenix Resources iron ore mine at Iron Ridge not impacted by Cyclone Seroja

Fenix Resources Ltd’s (ASX:FEX) Iron Ridge iron ore mine in WA’s Mid-West has not been impacted by the passage of Cyclone Seroja. Although operations at the mine were not impacted, road haulage to the company’s port storage facility in Geraldton was suspended on Sunday, April 11, 2021. Haulage is expected to resume as soon as electricity supplies in Geraldton are available. Fenix was not loading a ship at the time the cyclone reached Geraldton. Iron Ridge operations The 100%-owned, flagship Iron Ridge Iron Ore Project is a premium DSO deposit that hosts a JORC 2012-compliant resource around 490 kilometres by road from Geraldton port. Production began on December 21, 2020, with the first shipment dispatched in February 2021. High-grade iron ore attracts a premium price on the seaborne market as Chinese steelworks increasingly demand more pure inputs with lower emissions due to increasingly strict government regulations. Only requiring crushing and screening, 1.25 million tonnes of ore per annum is scheduled to be trucked to the port by a JV company owned 50% by Fenix and 50% by Newhaul Pty Ltd. Export capacity has been secured through binding agreements with Mid-West Ports Authority for the use of its Geraldton Port facilities. Product sales are conducted 50% through an offtake arrangement with Sinosteel International Holding Company Limited and 50% through a marketing agreement with Atlas Iron Limited.