PYX Resources Ltd on Monday reported a surge in zircon production and sales but said total production fell in 2023.
The Sydney-based, Indonesia-focused zircon and mineral sands producer said total production fell 11% to 14,800 tonnes in 2023 from 16,600 in 2022. Zircon production was 11,800 tonnes, up 31% from 9,100. However, titanium dioxide mineral production fell by 61% to 2,900 tonnes from 7,500 a year ago.
Total sales jumped 20% to 11,400 tonnes last year from 9,500 the year before, with zircon sales accounting for all of that, up from 9,100 tonnes in 2022. PYX did not sell any titanium dioxide minerals in 2023, compared to 300 tonnes in 2022.
Looking ahead, PYX Chair & Chief Executive Officer Oliver Haslet said: ‘We are excited about the growth prospects for 2024’, despite a challenging market. ‘We remain optimistic about our ability to navigate and capitalise on emerging opportunities. Our commitment to responsible mining, sustainable practices, and community engagement positions PYX Resources for continued success,’ he added.
Shares in PYX fell 1.3% to 15.06 pence each in London on Monday morning.
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