en.Wedoany.com Reported - Australian mining company Fenix Resources achieved a record iron ore shipment volume of 4.4 million tonnes in FY26, setting a production guidance of 4.7 to 5.3 million tonnes for FY27 as the company continues to expand its operations.

According to the company's June quarterly activity report, records were set in mining, transportation, and shipping during the quarter, with 1.299 million wet metric tonnes of iron ore shipped via 21 vessels.

This performance enabled Fenix to achieve its FY26 production guidance range of 4.2 to 4.8 million tonnes, while maintaining C1 cash costs at the lower end of the guidance.

Fenix Executive Chairman John Welborn stated that the company set records across all aspects of its operations in the June 2026 quarter, including total material mined, total tonnes transported, and single-vessel loading at Berth 5. Overall, these achievements allowed the company to ship 1.299 million wet metric tonnes of iron ore via 21 vessels during the quarter.

Looking ahead, FY27 guidance is set at total iron ore sales of 4.7 to 5.3 million tonnes, with C1 cash costs between A$70 and A$80 per wet metric tonne (FOB Geraldton). At the midpoint, sales are expected to grow by 14%, while cost guidance remains in line with FY25 and FY26 levels.

During the quarter, Fenix transported 1.364 million wet metric tonnes, a 28% increase from the previous quarter. The Beebyn-W11 project in Western Australia's Mid-West region shipped 742,000 wet metric tonnes as production continued to ramp up; the Shine project shipped 433,000 wet metric tonnes; and the Iron Ridge mine contributed 124,000 wet metric tonnes as it approaches the end of its economic life.

The company also received approval for the Beebyn-W10 deposit, with mine development underway and first blasting expected in the current quarter. Fenix stated that the transition to the Beebyn Hub as the primary production center remains ahead of schedule and on budget.

On the operational front, Fenix established a freight partnership with Mira Bulk during the quarter to reduce transportation costs, while securing a new long-term financing arrangement of US$44 million (A$62.8 million).

The company also appointed Jennifer Morris OAM and Michael Gollschewski as independent non-executive directors to strengthen the board, while advancing the Definitive Feasibility Study (DFS) for the Weld Range project.

As of the end of the quarter, Fenix held A$81 million in cash. The company stated that the Weld Range DFS remains on track for completion by the end of 2026, supporting its long-term goal of increasing production to 10 million tonnes per annum.