Fenix Resources (ASX:FEX) has expanded its iron ore hedging contracts by 300,000 tons for 2025, bringing the total volume hedged to 470,000 tons, according to a Friday filing with the Australian bourse.
These contracts, which span from January to December 2025, build upon the 120,000 tons of hedges previously secured for the first half of 2025, the filing said.
The new hedges comprise 50,000 tons for December at AU$150 per ton, 60,000 tons per month from January to June 2025 at AU$154.40 per ton, and 10,000 tons per month from July to December 2025 at AU$155.10 per ton.
The mining, logistics, and port services company attributed favorable exchange rates and strong spot iron ore prices, as key drivers for expanding its hedge book.
The hedging agreements are swap contracts with Macquarie Bank, to be settled in cash at the end of each month, the filing added.
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