PYX Resources upbeat about zircon market as production rises

2023-05-18

May 18, 2023 - PYX Resources Ltd (LSE:PYX, NSX:PYX) said it increased production of both mineral sands metals and zircon in its latest quarter from its assets in central Kalimantan, Indonesia.

Together, premium zircon, rutile and ilmenite production rose by 29% to 2,500 tonnes (t).

Premium zircon output rose by 12%, though sales fell 27% to 1,300t as shipping delays pushed them into the next accounting period. Reflecting that, premium zircon stocks jumped to 604t  from 256t this time a year ago.

In statement, Oliver B Hasler, PYX chief executive, commented: "In an improving zircon market, we are forecasting strong production and sales growth within our operations against a backdrop of improving global demand and pricing.

“All these factors give us great confidence for the remainder of the year ahead.”