Fenix Resources secures exclusive right to 290Mt iron ore project in WA

Fenix Resources, an integrated mining, logistics and port services company headquartered in Perth, Western Australia, has signed a binding agreement with Sinosteel Midwest Corporation Limited (SMC) for a 30-year exclusive right to mine and export iron ore from the latter's Weld Range iron ore project in Western Australia, according to Fenix's announcement on Monday.

The Weld Range Project, known for its high-quality hematite iron ore, is located approximately 500 km by road from Geraldton in the heart of the Mid-West region of Western Australia. It currently contains a global mineral resource estimate of 290 million tonnes at an average Fe grade of 56.8%