Fenix Resources Ltd shipped a record 4.4 million tonnes of iron ore across 73 vessels during the 2026 financial year, representing an 83% increase in volume compared to the 2.4 million tonnes shipped across 41 vessels in FY25.

The record shipments drove a corresponding rise across the company's financial metrics. Revenue reached $589.7 million, up 87% from $316.1 million in the previous financial year, while net profit after tax grew 128% to $12.3 million compared to $5.4 million in FY25. Operating cash flow rose 33% to $95.9 million, leaving the company with a cash balance of $81.0 million at 30 June 2026. The board declared a final fully franked dividend of 1 cent per share.

“Fenix continues to deliver on our promise to materially increase production, maintain cost discipline, and invest in future growth while maintaining shareholder returns. FY26 was another record year for the Company. We shipped 4.4 million tonnes of iron ore across 73 vessels, an 83% increase on FY25, delivering revenue of $590 million, EBITDA of $81 million, NPAT of $12 million and operating cash flow of $96 million. We closed the year with cash of $81 million after fully funding our significant growth agenda.”

— John Welborn, Executive Chairman

Operationally, residual production from the Iron Ridge Iron Ore Mine and Shine Iron Ore Mine is being progressively replaced by expanded output from the newly commissioned Beebyn-Hub under the company's 3-Year Production Plan. To support future production growth, Fenix secured the 290-million-tonne Weld Range Iron Ore Project through a 30-year Right to Mine Agreement with Sinosteel.

The company is also constructing a 5-million-tonne-per-annum crushing and processing plant at the Beebyn-Hub, scheduled to commence operations in the second quarter of FY27 to reduce operating costs. Fenix targets first shipments from the Beebyn-W10 mine in the second quarter of FY27, alongside advancing the Weld Range Definitive Feasibility Study to define a pathway for long-term iron ore sales of 10 million tonnes per annum.

For the current financial year, Fenix issued guidance targeting total iron ore sales of 4.7 million to 5.3 million tonnes at a C1 cash cost of between A$70 and A$80 per wet metric tonne FOB Geraldton.

“Our performance in FY26 is consistent with our 3-Year Production Plan published in December 2025 and setting our targets for FY26, FY27, and FY28. In the current financial year, we are targeting to further increase iron ore sales to 4.7Mt to 5.3Mt and to maintain our C1 cash cost at between $70/wmt and $80/wmt FOB Geraldton. Further record achievements are in our sights beyond the 3-Year Production Plan as we progress the Weld Range Definitive Feasibility Study which will define our pathway for long- term iron ore sales of 10Mtpa at significantly lower production costs.”

— John Welborn, Executive Chairman

Fenix's operating platform is positioned to sustain this momentum through the 2027 financial year as it integrates newly secured resources and expands its export capacity.

Read the full announcement: FY26 Full Year Results