en.Wedoany.com Reported - Australia's Fenix Resources has reported a record quarterly iron ore shipment volume and raised its production guidance for the coming year, as the company continues to expand its integrated Mid-West operations.

In the June 2026 quarter, the company shipped 1.299 million wet metric tons of iron ore, a 33% increase from the March quarter, bringing total shipments for the 2026 financial year to 4.4 million wet metric tons.

This performance aligns with Fenix's updated 2026 fiscal year production guidance, which was raised in December 2025 from the previous 4.0-4.4 million wet metric tons to 4.2-4.8 million wet metric tons.

Fenix attributed the record performance to mining optimization at its Mid-West iron ore assets, efficient haulage operations, and streamlined port operations at Geraldton Port, supported by dedicated terminal storage capacity.

As of the end of the fiscal year, Fenix held cash of A$81 million, down from A$86.3 million at the end of March, primarily due to capital expenditure, debt repayments, and tax payments during the quarter. The company stated that stronger production offset higher diesel prices and freight costs resulting from the US-Iran conflict, leaving the cash position broadly flat compared to the previous quarter.

Looking ahead to the 2027 fiscal year, Fenix targets iron ore sales of between 4.7 million and 5.3 million wet metric tons, a 14% increase from the midpoint of 2026 fiscal year shipments. The company expects Geraldton FOB C1 cash costs of A$70-80 per wet metric ton, maintaining the same cost guidance as the 2026 fiscal year despite ongoing market volatility.

Fenix will release its full June 2026 quarterly activity report later this month, followed by an investor webinar.