REG - PYX Resources Ltd. - Receives two-year licence for Mandiri Project

PYX ResourcesAnnouncement

18/01/2024 07:15

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RNS Number : 1378A  PYX Resources Limited  18 January 2024

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

 

 

18 January 2024

 

Pyx Resources Limited

("PYX" or "the Company")

 

PYX Receives two-year licence to extract and process up to

94,000 tonnes per year of minerals from its Mandiri Project

 

 

PYX Resources Ltd (NSX: PYX | LSE: PYX), the third largest publicly listed
zircon producing mining company globally by zircon resources, 1  (#_ftn1) is
pleased to announce that it has approval to extract and process a combined
94ktpa of Premium Zircon, Ilmenite and Rutile from the Company's flagship
project - Mandiri.

The 2024 &2025 Mandiri RKAB Work Plan and Budget, approved by the
Indonesian authorities includes:

 

·    Mining operations

·    Processing and refining

·    Marketing and shipping

·    Environment

·    Mining safety

·    Training; and

·    Community development and empowerment.

 

The receipt the Work Programme & Budget/ Rencana Kerja dan Anggaran Biaya
(WP&B/ RKAB) from the Indonesian Energy and Mineral Resources Department
(ESDM), is valid for two years, 2024 and 2025.

The licence allows the Company to export:

·    A total of 24kt per year of Premium Zircon with grades of 65.5%
divide into:

o  Export market: 19,200 ton/year

o  Domestic market: 4,800 ton/year

·    A total of 50,000 Wet ton ("WE")/year of Ilmenite with 45% grades
divided into:

o  Export market: 40,000 WE/year

o  Domestic market: 10,000 WE/year

·    A total of 20,000 WE/year of Rutile with 90% grades divided into:

o  Export 16,000 WE/year

o  Domestic 4,000 WE/year

WE = Wet Ton (the new scale for Titanium based on MoF Department No 23, 2023

Commenting on the receipt of approval for the Budget and Work Plan, PYX
Resources' Chairman and Chief Executive Officer, Oliver B. Hasler, said:

 

"We are thrilled with the Indonesian Energy and Mineral Resources Department
decision to award Mandiri, which has been in production since 2015, with a
two-year work programme licence, as opposed to the usual yearly licence,
providing us with greater visibility and allowing us to plan further ahead.
 We look forward to our continued collaboration with the local government and
the community as we advance the Mandiri project."

 

The Mandiri Project

The Mandiri project has been in production since 2015 and is the 3(rd) largest
zircon producing mining company globally by zircon resources. The project
covers a licensed concession area of 2,032 hectares near Kuala Kurun City in
the Gunung Mas Regency of Central Kalimantan, Indonesia and it is devoted to
the exploration of mineral sands products and the production and export of
premium 65.5 grade zircon.

 

 

*** ENDS ***

For more information:

 

 PYX Resources Limited                             T: +61 2 8823 3132

                                                   E: ir@pyxresources.com (mailto:ir@pyxresources.com)
 WH Ireland Limited (Broker)                       T: +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell / Darshan Patel
 St Brides Partners Ltd (Financial PR)             E: pyx@stbridespartners.co.uk (mailto:pyx@stbridespartners.co.uk)

 Ana Ribeiro / Isabel de Salis / Isabelle Morris

 

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.

 

 

 1  (#_ftnref1) According to publicly available information during the
financial year ended June 2023

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