Fenix Resources Secures Approvals to Develop Western Australia Iron Ore Mine; Shares Gain 4%

MT Newswires Live

07/20

Fenix Resources (ASX:FEX) received regulatory and environmental approvals to develop a new iron ore mine at the Beebyn-W10 deposit in Western Australia, according to a Monday filing with the Australian bourse.

The state's Department of Energy, Mines, Industry Regulation, and Safety approved the mining development and closure proposal and the native vegetation clearing permit for Beebyn-W10, while the Department of Water and Environmental Protection granted a prescribed premises works license to support an annual production capacity of up to 6 million tonnes at the Beebyn Hub.

Beebyn-W10 is near the existing Beebyn-W11 iron ore mine and represents the next mine to be developed under Fenix's Weld Range iron ore project development plan, per the filing.

The company said ore production from Beebyn-W10 is due to start in the current quarter, with the first ore on ship expected during the December quarter.

Fenix Resources shares gained 4% in recent Monday trade.

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