REG - PYX Resources Ltd. - Connects Operations to Electric Grid

PYX ResourcesAnnouncement

21/05/2024 07:00

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RNS Number : 1197P  PYX Resources Limited  21 May 2024

21 May 2024

PYX Resources Ltd

("PYX" or the "Company")

 

Connects Operations to Electric Grid

 

Savings of over 80% on fuel costs & reduced carbon emissions

 

PYX Resources Ltd (NSX: PYX | LSE: PYX), the world's third largest publicly
listed zircon producer by zircon resources(( 1 )), has connected its Mandiri
Mineral Separation Plant ("MSP") to the local electric grid of Central
Kalimantan, Indonesia.

 

HIGHLIGHTS

·    Connection to grid expected to save over 80% of fuel costs.

·    With a 99% uptime guarantee, grid connection also reduces carbon
footprint and makes operations more sustainable.

·    Fulfilling on strategy to increase production, reduce costs, and
boost operational margins.

 

PYX Resources' Chairman and Chief Executive Officer, Oliver B. Hasler, said:

 

"We are very happy with the continuous progress made at Mandiri's MSP and
appreciate the help received by the local authorities, and in particular the
State Electricity Company in Palangkaraya.  Anyone running a mining operation
will understand the importance of having access to continuous reliable power,
provided by the connectivity to a grid.  Although the generators we have been
using on site have enabled us to progress operations so far, they were fuel
and maintenance intensive and represented a significant proportion of our
OPEX.

 

"Aside from the operational benefits, the grid connectivity will make our
operations cleaner, and it is another excellent example of our focus on
sustainability and improving our daily productivity and bottom line."

 

DETAILS

As part of its strategy to drive shareholder and stakeholder value, the
Company is focused on increasing production at its large-scale operations in
Central Kalimantan, reducing costs, and boosting operational margins.
Accordingly, in early 2022, PYX increased production capacity at Mandiri MSP
from 18,000tpa to 24,000tpa to enable the production of by-products, rutile,
leucoxene, and ilmenite having initially produced and sold premium zircon, and
now aims to double this to 48,000tpa by 2026.

 

Furthermore, over the past six months, the Company has installed wiring to
connect Mandiri's MSP to a new electric panel, which has been connected to a
new transformer with a capacity of 555kVA.  After the SLO testing (Operation
Certificate) was issued, the State Electricity Company, Perusahaan Listrik
Negara (PLN), connected the MSP to the grid on 20 May 2024, which is expected
to save over 80% of fuel costs.  PYX has agreed a 24/7 premium services
contract with PLN, with 99% uptime guarantee.

 

Importantly, as Indonesia advances its 2060 Net-Zero strategy, with work
underway to expand its renewables capacity and support systems and develop
green ecosystems, PYX's connection to the electric grid will also reduce its
own carbon footprint and make its operations more sustainable.

 

 

***ENDS ***

 

 

 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 3rd 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  according to publicly available information as of 30 June 2023

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