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Fenix Resources (ASX: FEX) eyes business expansion through recently acquired assets

Wed 06 Sep 23, 11:09 AM | Team Kalkine

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Highlights

Fenix Resources Ltd (ASX: FEX) is a high-grade, high-margin iron ore miner located in the Mid-West mining region of western Australia. Iron Ridge Iron Ore project is the company’s flagship project, located near Cue, Western Australia. The current production run rate of the project is 1.3 million tonnes per annum. In addition to this, the company also operates a fully integrated logistics and mining business.

The ASX-listed iron ore producer registered a revenue of AUD 196.80 million in FY23, 21% lower than the previous year. The operating profit for the year was AUD 38.64 million, 44.3% lower than the previous year.

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