Fenix Resources (ASX:FEX) has signed a cooperation agreement with the Mid West Ports Authority, the owner of Geraldton port, regarding the export of iron ore as it continues to develop its Iron Ridge project.

AT A GLANCE

  • Fenix and Geraldton port will investigate how to provide one million tonnes per annum of export capacity through the port
  • Fenix and the MWPA will negotiate port access, capacity reservations, handling services and iron ore product export contracts
  • Agreement is the latest step towards full development of Fenix’s Iron Ridge project

MWPA has a mandate to provide approximately one million tonnes per annum of export capacity through the Geraldton Port, and will investigate with Fenix how it might meet that target.

Fenix is an attractive partner for the MWPA thanks to its flagship Iron Ridge iron ore project, which is a premium direct-shipping iron ore deposit which hosts a JORC 2012 compliant resource located around 490km by road from Geraldton port.

The joint cooperation agreement provides the next breakthrough in the progression of Iron Ridge as the company advances towards development.

Earlier this month, Fenix formed a strategic alliance with trucking and logistics company, Minehaul, to truck mined iron ore to the port.

“The execution of this agreement represents yet another advancement in a key component of our future operations as we strive towards development of the Iron Ridge project. With the recent trucking joint venture signed and excellent preliminary metallurgical results, the agreement with the MWPA is another step towards the completion of our logistics chain,” said Robert Brierley, managing director of Fenix.

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About Fenix Resources

Fenix Resources is a WA-based minerals explorer transitioning to miner. The company’s 100 per cent-owned, flagship Iron Ridge Iron Ore Project is a premium DSO deposit which hosts a JORC 2012 compliant resource located around 490 km by road from Geraldton port.

 

This content is produced by Star Investing in commercial partnership with Fenix Resources. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.