REG - PYX Resources Ltd. - Starts Operations at Malaysian Logistics Facility

PYX ResourcesAnnouncement

30/11/2022 07:30

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RNS Number : 0542I  PYX Resources Limited  30 November 2022

 

30 November 2022

PYX Resources Ltd

Commences Operations at Strategic Malaysian Logistics Facility

 

Major and sustainable global producer of premium zircon, PYX Resources Ltd
(PYX or the Company) (NSX: PYX | LSE: PYX) is pleased to announce it has
started using a key logistics and inventory storage opportunity based on Kuala
Lumpur's Port Klang port infrastructure.

 

Port Klang is the second biggest port in the Southeast Asia region, marginally
outside of the world's top 10, with its traffic reaching 13.7 million TEU in
2021. It is situated on the west coast of the Malay Peninsular on the Malacca
Strait and is on one of the busiest shipping lanes in the world. Compared to
PYX's actual logistics from Banjarmasin to Jakarta, Port Klang has an
increased connectivity, more competitive port facility, higher efficiency,
lower cost factors, excellent information systems and a green port management.
The Free Commercial Zone permits the Company to carry out trade and
manufacturing activities.

 

The new storge option will provide significant benefits to PYX and its
international clients, by:

·  Reducing shipping time to end-use markets by several weeks compared to
shipping directly from Banjarmasinin Indonesia.

·    Increasing predictability of shipments and onward arrival times.

·    Reducing shipping costs to many key markets; India, Europe and
Americas.

·    Providing a well-placed buffer stock to negate the effects of
seasonal storms and other supply chain issues (which have hampered global
supply chains recently).

 

PYX Resources' Chairman and Chief Executive Officer, Oliver B. Hasler, said:
"Port Klang is a bonded, free-trade, logistics hub perfectly suited to provide
a low cost, rapid response logistics centre plugged into global markets.

 

"Having this additional, world-class facility allows PYX to tap into Metal and
Mineral Trading Company Wogen's supply chain, which assists PYX's cash flow
and allows for a more mature and sophisticated sales approach.

 

"Our customers will gain significant benefit from the substantial improvements
this new facility will bring to our logistics and handling as we grow the
supply of our premium zircon product to global markets."

 

 

 
                         ***ENDS***

 PYX Resources Limited                                      T: +852 3519 2860

 Oliver B. Hasler, Chairman and Chief Executive Officer     E: ir@pyxresources.com (mailto:ir@pyxresources.com)
 WH Ireland Limited (Financial Adviser & Joint Broker)      T: +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell / Megan Liddell
 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 Wogen (www.wogen.com (http://www.wogen.com) )

Wogen was created in 1972 and is a leading international trader of
off-exchange specialty metals and minerals, with a particularly strong
presence in China, Asia and Europe. During the company's 47-year history it
has developed a strong management team as well as a broad range of suppliers
and customers around the globe, based on long-term relationships, giving
unique market insights both on the demand and the supply side.

 

Wogen's various business models include trading as a principal, providing
sales & marketing distribution for producers and miners, and sourcing
material for consumers on a global scale. Headquartered in London, Wogen has
offices in Beijing, Shanghai, Guangzhou, Hong Kong, Moscow, Cleveland and
Johannesburg and is represented by agents in the other major economies of the
world.

 

 

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 2nd 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.

 

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