Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australian miner Fenix Resources has begun production of iron ore at its Iron Ridge Project in Western Australia. The first of ore is likely to be shipped in late January or early February 2021, as per media reports.


The company intends to increase its annual production capacity to 1.25mn mt.

Iron ore lumps and fines for the shipment currently stored at the Port of Geraldton. The company has also signed an agreement with Mid-West Ports Authority for the use of its Geraldton Port facilities to export 1.25mn mt of iron ore per annum utilizing the Berth 5 shiploader.


The Iron Ridge Iron ore project hosts a JORC 2012-compliant indicated and inferred resource of 10.5mn mt at 64.2pc iron with low impurities and a 7.76mn mt probable ore reserve at 63.9pc iron.


Prices of iron ore are soaring. High-grade iron ore attracts a premium price on the seaborne markets. Demand from Chinese steel producers is bullish for high-grade iron ore to produce steel with lower emissions due to increasingly strict government regulations.

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