Australian Ore Miner Fenix Warns Fuel Crunch Impacting Industry

Fenix Resources warned diesel supply constraints tied to the Iran war are beginning to impact operations across Australia’s mining sector and have forced the iron-ore miner to scale back some activities. This creates near-term downside risk to Fenix’s production and margins and poses broader logistics and fuel-cost pressures for peers in the sector.

Analysis

Fenix Resources warned diesel supply constraints tied to the Iran war are beginning to impact operations across Australia’s mining sector and have forced the iron-ore miner to scale back some activities. This creates near-term downside risk to Fenix’s production and margins and poses broader logistics and fuel-cost pressures for peers in the sector.