Australian iron ore miner Fenix Resources Limited announced that it had completed a feasibility study for a new iron ore mine at the BeebynW11 deposit in Western Australia. The study demonstrated the mine was a high-grade, high-quality project that would provide strong returns over its seven-year mine life. The mine was expected to start production in early 2025, with an annual production capacity of 1.5 million dry metric tons.

It was understood BeebynW11, Fenix's third operating iron ore mine in Western Australia's central west, was located just 20 kilometers from Fenix's current mining operations at Iron Ridge and was strategically located to increase mining production, extend regional operating life and further reduce costs.

Separately, Fenix Resources also released its quarterly report for the three months ended June 30 this year. The company's iron ore shipments in the quarter were 401,000 tons, a 12.3% increase from the previous quarter.