15th Aug 2023 13:31
PYX Resources Ltd - Indonesia-focused zircon producer - Wins approval to extract and process 48,000 tones of premium zircon during 2023 from its second deposit, Tisma, in Indonesia. Says this is an "important milestone" in the company's growth as it expands its ability to produce mineral sands from Tisma.
"Firstly, I want to personally thank the Energy & Resource Service Department from the Government of the Province of Central Kalimantan for their dedication and work on our work plan and budget submission. Tisma is an important asset in our portfolio and its significant zircon, rutile and ilmenite reserves have the potential to significantly increase our production levels. This will in turn, have a positive effect on our earnings and export income in future years benefiting PYX stakeholders, including the local region and Indonesia as a whole," says Chief Executive Oliver Hasler.
Current stock price: 24.00 pence, down 5.0% in London
12-month change: down 56%
By Heather Rydings, Alliance News senior economics reporter
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