en.Wedoany.com Reported - On June 22, Australian mining company Fenix Resources signed an agreement with dry bulk carrier operator Mira Bulk to establish the Fenix-Mira Bulk Maritime Cooperation Platform, while securing approximately $44 million in long-term financing from ResInvest, a shareholder of Mira Bulk, to replace short-term advances and support production increases. The partnership aims to reduce per-tonne shipping costs for iron ore products by expanding the fleet to improve vessel availability. Fenix will pay commissions at market rates and share profits with Mira Bulk based on iron ore shipment volumes.
Mira Bulk primarily operates Panamax and Capesize vessels. In May, the Nord Draco, arranged by the company, loaded 69,125 wet metric tonnes of iron ore at Berth 5 of Geraldton Port, setting a single-vessel loading record at the port. This cooperation is a key step in Fenix's efforts to perfect its integrated "mine-road-port-shipping" operations. According to Fenix's three-year production plan, its iron ore production target for fiscal year 2026 (July 2025 to June 2026) is 4.2 to 4.8 million tonnes, with plans to increase it to up to 6 million tonnes by fiscal year 2028 (July 2027 to June 2028).
Fenix is an integrated iron ore producer in the Mid West region of Western Australia, operating mines such as Iron Ridge, Shine, and Beebyn-W11, along with road transport operations and loading, unloading, and storage facilities at Geraldton Port, with a port iron ore export capacity of approximately 10 million tonnes per year. Company website data shows that the Iron Ridge mineral resource is approximately 13.4 million tonnes with an average iron grade of 64.9%; the Weld Range project mineral resource is approximately 290 million tonnes with an average iron grade of 56.8%, of which the Beebyn-W11 high-grade resource is approximately 20.5 million tonnes with an average iron grade of 61.3%. These mines primarily produce high-quality direct-shipping iron ore products.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
