Fenix haulage tops 10Mt milestone as Newhaul founder steps down
Western Australian company Fenix Resources has surpassed 10-million dry metric tonnes of iron-ore haulage through its wholly owned logistics arm Newhaul.
The milestone reflects a rapid scale-up since production began at the Iron Ridge mine in December 2020 at a rate of 1.3-million tonnes a year, with output increasing to a current run rate of 4.5-million tonnes a year following the development of the Shine and Beebyn-W11 mines.
More than one-million tonnes of iron-ore were hauled in the December 2025 quarter alone, underpinning the company’s cumulative haulage achievement.
The milestone also triggers the final payment under Fenix’s 2022 acquisition of Newhaul, with 20-million shares issued to entities controlled by founder Craig Mitchell, bringing total milestone payments to 60-million shares.
Following the achievement, Mitchell has stepped down as a director and employee of Fenix, effective immediately, but will remain in an advisory role for 12 months.
“Congratulations to Craig on the successful achievement of all of the key operational milestones of the acquisition and integration of Newhaul as a business unit of Fenix. Craig has been integral in Fenix’s success to date and has helped develop the strong management team and the performance-driven culture that will take the business forward," said executive chairperson John Welborn.
“The growth pathway for Fenix is now crystal clear and our future as a high-volume low-cost iron-ore miner is supported by the well-established systems and structure that Craig has established in the company’s fully integrated supply chain. As one of Western Australia’s most successful entrepreneurs and logistics operators, Craig has built a legacy of innovation, partnership and a commitment to sustainable growth that is imbedded in Fenix’s values and will continue to drive Fenix’s future.”
Mitchell added in a statement that it was a privilege to work with the Fenix and Newhaul teams in developing the logistics and haulage platform that can now take production to 10-million tonnes a year and beyond.
“With the company’s growth pathway now clearly established, and following careful consideration, the achievement of this milestone represents the appropriate time for me to transition from my role as executive director to being a supportive shareholder and adviser.
“I look forward to Fenix’s continued success. The company is well positioned with a capable management team and a strong foundation for future growth.”
