Fenix Resources (ASX:FEX) is the latest iron ore explorer to move into the construction phase with its Iron Ridge direct shipping ore (DSO) project receiving WA government approval.

Hot on the heels of another junior, Flinders Mines (ASX:FMS), which last week was given the green light for its $5bn Pilbara iron ore project, Fenix is ready to begin construction work for Iron Ridge.

“We are all set to commence works on site before the end of this month, in line with our previously announced timeline to achieve first sales in early 2021,” Fenix managing director Rob Brierly said.

Fenix is proposing to ship 1.25 million tonnes per year of DSO iron ore, which only requires crushing and screening, from WA’s Geraldton port, 490km west of its Iron Ridge mine.

“High-grade iron ore attracts a premium price on the seaborne market as Chinese steel works increasingly demand more pure inputs with lower emissions due to increasingly strict government regulations,” Fenix said.

Source: Stockhead