Australia-listed iron ore producer Fenix Resources Limited (Fenix) has signed definitive agreements to acquire Newhaul’s 50% interest in haulage joint venture, Fenix-Newhaul Pty Ltd, to lower iron ore costs, Kallanish notes.
The move will result in the consolidation of 100% ownership of the haulage business into Fenix.
This could reduce Fenix’s C1 fob cash costs by about A$10/tonne ($6.97/t) enabling Fenix to target total C1 fob cash costs of ab…
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