Starts Operations at Malaysian Logistics Facility

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 Oliver B. Hasler, Chairman and Chief Executive Officer	T: [phone] E: [e-mail]
WH Ireland Limited (Financial Adviser & Joint Broker) Harry Ansell / Katy Mitchell / Megan Liddell	T: [phone]
St Brides Partners Ltd (Financial PR) Ana Ribeiro / Isabel de Salis / Isabelle Morris	E: [e-mail]

This announcement is authorised for release by Oliver B. Hasler, Chairman and Chief Executive Officer.

About Wogen ( 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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