Australian Ore Miner Fenix Warns Fuel Crunch Impacting Industry

Fenix Resources Ltd. warned that constraints to diesel supply due to the Iran war are starting to impact operations across Australia’s mining sector, forcing the iron ore miner to scale back some activities.

The company is taking steps to reduce non-essential activity at its mining and haulage operations in Western Australia, according to a filing from Fenix, which also cited fuel supply disruptions posed by Tropical Cyclone Narelle currently churning off the coast. The miner’s shares declined 7%.