PYX Resources Ltd - Sydney-based, Indonesia-focused zircon and mineral sands producer - Says 2023 has taken it ‘a step closer’ to becoming a mineral sands consolidator in Indonesia and a leading player in the premium zircon market. In August, the group was awarded a licence from the Indonesian government for the extraction and export of ilmenite and rutile ores. The group was also awarded a renewal of a 10-year exploration and mining licence at the Tisma mineral sands project in Kalimantan, Indonesia. In the third quarter of 2023, the company increased its premium zircon production by 61% to 4.0 kilotonnes, equivalent to a yearly production rate of 16.0kt. PYX also increased sales of premium zircon by 88% in the third quarter to 4.2kt, taking the year-to-date sales volume to 9.4kt. PYX’s ‘strategic approach to client diversification’, resulted in sales volume being primarily generated from China and India.

Current stock price: 15.49 pence per share, down 0.1%

12-month change: down 59%

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