focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Join the Australia-UK Chamber of Commerce in partnership with GreenTech Metals, Artemis Resources, Alien Metals and Westpac as we explore the crucial role of critical minerals in driving the growth of clean energy technologies.
Hear from our distinguished guest speakers in an engaging panel discussion:
The Honourable Alexander Downer AC - Former Australian High Commissioner to the UK and current non-Executive Director, IronBark Zinc Ltd and Yellow Cake Plc.
Mark Dooley - Global Head, Macquarie Asset Management Green Investments, Macquarie.
David Scrivener - Global Head - Energy, Infrastructure and Resources, Westpac.
Date: Wednesday, 1st May 2024 | 6:00 PM - 8:00 PM | Australia House
Ticket: Chamber Members: £60 +VAT
Non-Members & Guests: £85 +VAT
The panel of industry experts will explore:
✔The pivotal role of critical minerals in driving the transition to clean energy.
✔Opportunities and challenges in the exploration and mining of critical minerals.
✔Strategies for sustainable extraction and supply chain management.
✔Innovations driving efficiency and environmental responsibility in mineral extraction and processing.
Https://youtu.be/-9VldRcOkWI?si=zyYdWbOiPuXRs4dm
Same business model as Alien now have ✅
Fenix Resources extends iron ore hedging to 50,000 tonnes per month to June 2023
Published: 22:09 02 Jan 2023
Written by: John Miller
About this content
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Fenix Resources Ltd
ASX:FEX
Fenix Resources extends iron ore hedging to 50,000 tonnes per month to June 2023
Fenix Resources Ltd (ASX:FEX) has extended existing hedging arrangements for direct shipping ore (DSO) iron ore from the flagship Iron Ridge Mine, a premium deposit in Western Australia’s Mid-West hosting some of the highest-grade iron ore in the state.
The company has extended hedging to ensure cover is in place for a total of 50,000 dry metric tonnes (dmt) of iron ore per month from January 2023 through to June 2023 at a fixed price of A$173.25 per dmt.
New iron ore hedging has been established by iron ore swap arrangements for an additional 15,000 dmt per month over the six-months to June 2023 and extends the existing swap arrangements for 35,000 tonnes per month up to and including June 2023.
The existing hedges were placed in June 2022 and continue to provide strong margin support for Fenix iron ore production and cash flows.
“Strong margin on product”
Fenix chairman John Welborn said: “Hedging has been an important component of Fenix’s success as a highly profitable iron ore producer.
"We are focused on maintaining a strong margin on our high-grade iron ore products throughout the iron ore price cycle.
"Our ongoing hedging arrangements secure a solid margin on a base level of our production and support our ability to continue to generate strong cashflows and profitability.”
Price Protection Policy
Fenix’s iron ore swap arrangements consist of contracts which are cash settled at the end of each month for an amount equivalent to the difference between the fixed price of the contracts and the Monthly Average Platts TSI 62 Index converted to Australian dollars.
These swap arrangements are consistent with the company’s Price Protection Policy designed to support the medium-term profitability of production from the Iron Ridge Iron Ore Mine whilst maintaining positive exposure to iron ore prices.
Fully integrated business
The company operates a unique fully integrated mining and logistics business.
Mining at Iron Ridge is via conventional open pit methods with a low strip ratio and simple crushing and screening of high-grade lump and fines direct shipping ore products.
High-quality iron ore products from Iron Ridge are transported by road to Geraldton using the company’s 100% owned Fenix-Newhaul haulage and logistics business. The company operates its own loading and storage facilities at Geraldton Port.
Fenix’s high-grade iron ore attracts a premium price on the seaborne market. Increasingly, global customers are demanding high-grade ore to meet increasingly strict government regulations.
Fenix Resources extends iron ore hedging to 50,000 tonnes per month to June 2023
Published: 22:09 02 Jan 2023
Written by: John Miller
About this content
View
Fenix Resources Ltd
ASX:FEX
Fenix Resources extends iron ore hedging to 50,000 tonnes per month to June 2023
Fenix Resources Ltd (ASX:FEX) has extended existing hedging arrangements for direct shipping ore (DSO) iron ore from the flagship Iron Ridge Mine, a premium deposit in Western Australia’s Mid-West hosting some of the highest-grade iron ore in the state.
The company has extended hedging to ensure cover is in place for a total of 50,000 dry metric tonnes (dmt) of iron ore per month from January 2023 through to June 2023 at a fixed price of A$173.25 per dmt.
New iron ore hedging has been established by iron ore swap arrangements for an additional 15,000 dmt per month over the six-months to June 2023 and extends the existing swap arrangements for 35,000 tonnes per month up to and including June 2023.
The existing hedges were placed in June 2022 and continue to provide strong margin support for Fenix iron ore production and cash flows.
“Strong margin on product”
Fenix chairman John Welborn said: “Hedging has been an important component of Fenix’s success as a highly profitable iron ore producer.
"We are focused on maintaining a strong margin on our high-grade iron ore products throughout the iron ore price cycle.
"Our ongoing hedging arrangements secure a solid margin on a base level of our production and support our ability to continue to generate strong cashflows and profitability.”
Price Protection Policy
Fenix’s iron ore swap arrangements consist of contracts which are cash settled at the end of each month for an amount equivalent to the difference between the fixed price of the contracts and the Monthly Average Platts TSI 62 Index converted to Australian dollars.
These swap arrangements are consistent with the company’s Price Protection Policy designed to support the medium-term profitability of production from the Iron Ridge Iron Ore Mine whilst maintaining positive exposure to iron ore prices.
Fully integrated business
The company operates a unique fully integrated mining and logistics business.
Mining at Iron Ridge is via conventional open pit methods with a low strip ratio and simple crushing and screening of high-grade lump and fines direct shipping ore products.
High-quality iron ore products from Iron Ridge are transported by road to Geraldton using the company’s 100% owned Fenix-Newhaul haulage and logistics business. The company operates its own loading and storage facilities at Geraldton Port.
Fenix’s high-grade iron ore attracts a premium price on the seaborne market. Increasingly, global customers are demanding high-grade ore to meet increasingly strict government regulations.