Fenix Resources Ltd (ASX:FEX) has locked in iron ore hedging contracts for another six months to the end of this year, securing a guaranteed price of A$171.17 per dry metric tonne (dmt) at a monthly rate of 30,000 tonnes.
The company has established new iron ore hedging contracts production from the Iron Ridge Iron Ore Mine in WA consisting of iron ore swap contracts which are cash settled at the end of each month.
These are for an amount equivalent to the difference between the fixed price of the contracts and the Monthly Average Platts TSI 62 Index converted to Australian Dollars.
