Connects Operations to Electric Grid
Sydney, May 21, 2024 AEST (ABN Newswire) - PYX Resources Ltd (
LON:PYX) (NSX:PYX), the world's third largest publicly listed zircon producer by zircon resources, has connected its Mandiri Mineral Separation Plant ("MSP") to the local electric grid of Central Kalimantan, Indonesia.
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."
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.
About Pyx Resources Limited
PYX Resources Limited (NSX:PYX) (LON:PYX) is a global producer of premium zircon listed on the National Stock Exchange of Australia and the London Stock Exchange. The Company's flagship asset is the Mandiri mineral sands deposit, located in the alluvium sediment rich region of Central Kalimantan, Indonesia. Boasting the world's 5th largest producing deposit of zircon, PYX is a large-scale, near-surface open pit operation in production since 2015 and with exploration to date validating the presence of additional Valuable Heavy Minerals such as rutile, ilmenite among others within its mineral sands.
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