REG - PYX Resources Ltd. - Operational Disruption Due to Regulatory Shift

PYX ResourcesAnnouncement

Tue 11:15

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RNS Number : 6768X  PYX Resources Limited  02 September 2025

 PYX Resources Limited / EPIC: PYX / Market: Standard / Sector: Mining

 

 

2 September 2025

 

Pyx Resources Limited

("PYX" or "the Company")

 

Operational Disruption Due to Indonesian Regulatory Shift

 

 

PYX Resources (NSX: PYX | LSE: PYX), today announces a significant disruption
to its operations in Central Kalimantan, Indonesia, following recent
regulatory changes introduced by the Indonesian government.

The disruption stems from a recent decision by Indonesia's Ministry of Energy
and Mineral Resources not to reinstate the annual RKAB (Work Plan and Budget)
system until 2026. According to government statements, the move is driven by
the need to address oversupply, improve market stability, and enhance
regulatory oversight across multiple mining sectors-including coal, bauxite,
nickel, and mineral sands.(( 1 ))

 

The Company confirms that its IUP license for the Mandiri deposit expired on
31 August 2025. Due to the current regulatory uncertainty, PYX is forced to
postpone the renewal of its license, resulting in a temporary suspension of
operations at Mandiri. This development has had a direct and material impact
on the Company's production and commercial activities.

 

While PYX supports the government's broader objectives to strengthen
governance and transparency, the abrupt nature of the policy shift has created
significant uncertainty for mining operators. The lack of a clear transitional
framework has left companies like PYX unable to proceed with license renewals,
despite a long-standing commitment to responsible mining.

 

According to FerroAlloyNet, the new RKAB framework has "aroused suspicion in
the industry," with experts warning that the shift to annual approvals could
destabilize production planning and overwhelm regulatory systems. Singgih
Widagdo, Chairman of the Indonesian Mining & Energy Forum (IMEF),
emphasized that Indonesia's 4,100+ active mining permits would be difficult to
manage under a yearly approval cycle. He argued that the previous three-year
RKAB system allowed for more realistic production targets and long-term
planning, citing coal output projections of 922.16 million tons for 2024 as an
example.(( 2  (#_ftn2) ))

 

PYX remains committed to its long-term strategy of consolidating mineral sands
resources.

 

The Company will continue to monitor developments and provide further updates
as appropriate

 

*** ENDS ***

 

For more information:

 

 PYX Resources Limited                          T: +61 2 8823 3132

                                                E: ir@pyxresources.com (mailto:ir@pyxresources.com)
 Zeus (Broker)                                  T: +44 (0)20 3 829 5000

 Harry Ansell / Katy Mitchell / Darshan Patel

 

This announcement is authorised for release by Oliver B. Hasler, Chairman and
Chief Executive Officer.

 

About PYX Resources

 

PYX Resources Limited (NSX: PYX | LSE: PYX) is a producer of premium zircon
dual listed on the National Stock Exchange of Australia and on the Main Market
of the London Stock Exchange. PYX's key deposits, Mandiri and Tisma, are
large-scale, near-surface open pit deposits both located in the alluvium-rich
region of Central Kalimantan, Indonesia. PYX, whose Mandiri deposit has been
in production since 2015, is the 3(rd) largest publicly traded producing
mineral sands company by zircon resources globally. Determined to mine
responsibly and invest in the wider communities where we operate, PYX is
committed to fully developing its Mandiri and Tisma deposits, with the vision
to consolidate the mineral sands resources in Kalimantan and explore and
acquire mineral sands assets in Asia and beyond.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

 

This Announcement contains forward-looking statements and forward-looking
information within the meaning of applicable Australian and UK securities
laws, which are based on expectations, estimates and projections as of the
date of this Announcement.

 

This forward-looking information includes, or may be based upon, without
limitation, estimates, forecasts and statements as to management's
expectations with respect to, among other things, the timing and amount of
funding required to execute the Company's exploration, development and
business plans, capital and exploration expenditures, the effect on the
Company of any changes to existing legislation or policy, government
regulation of mining operations, the length of time required to obtain
permits, certifications and approvals, the success of exploration, development
and mining activities, the geology of the Company's properties, environmental
risks, the availability of labour, the focus of the Company in the future,
demand and market outlook for precious metals and the prices thereof, progress
in development of mineral properties, the Company's ability to raise funding
privately or on a public market in the future, the Company's future growth,
results of operations, performance, and business prospects and opportunities.
Wherever possible, words such as "anticipate", "believe", "expect", "intend",
"may" and similar expressions have been used to identify such forward-looking
information.

 

Forward-looking information is based on the opinions and estimates of
management at the date the information is given, and on information available
to management at such time. Forward looking information involves significant
risks, uncertainties, assumptions, and other factors that could cause actual
results, performance, or achievements to differ materially from the results
discussed or implied in the forward-looking information. These factors,
including, but not limited to, fluctuations in currency markets, fluctuations
in commodity prices, the ability of the Company to access sufficient capital
on favourable terms or at all, changes in national and local government
legislation, taxation, controls, regulations, political or economic
developments in Indonesia and Australia or other countries in which the
Company does business or may carry on business in the future, operational or
technical difficulties in connection with exploration or development
activities, employee relations, the speculative nature of mineral exploration
and development, obtaining necessary licenses and permits, diminishing
quantities and grades of mineral reserves, contests over title to properties,
especially title to undeveloped properties, the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drill results and other geological data, environmental
hazards, industrial accidents, unusual or unexpected formations, pressures,
cave-ins and flooding, limitations of insurance coverage and the possibility
of project cost overruns or unanticipated costs and expenses, and should be
considered carefully. Many of these uncertainties and contingencies can affect
the Company's actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking statements
made by, or on behalf of, the Company. Prospective investors should not place
undue reliance on any forward-looking information.

 

Although the forward-looking information contained in this Announcement is
based upon what management believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure prospective purchasers that actual
results will be consistent with such forward-looking information, as there may
be other factors that cause results not to be as anticipated, estimated or
intended, and neither the Company nor any other person assumes responsibility
for the accuracy and completeness of any such forward-looking information. The
Company does not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be required by
law.

 

No stock exchange, regulation services provider, securities commission or
other regulatory authority has approved or disapproved the information
contained in this Announcement.

 1  Indonesia to reinstate RKAB system to tackle oversupply, market
manipulation, Indonesia Business Post, July 3, 2025.

 2  The new policy of RKAB arouses suspicion in the industry, FerroAlloyNet,
July 4, 2025.

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