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The latest update is out from Pyx Resources Limited ( (GB:PYX) ).
PYX Resources Limited has been informed of a significant increase in royalties for exporting premium zircon, rutile, and ilmenite in Central Kalimantan, Indonesia, from 4% to 20% of a newly defined base price. This change affects all participants in Indonesia’s mineral sands industry. PYX is actively engaging with regional authorities, alongside the Indonesian Zircon and Titanium Association, to negotiate a reversal or modification of this decision, as it poses a substantial impact on the industry.
More about Pyx Resources Limited
PYX Resources Limited is a dual-listed producer of premium zircon, operating on the National Stock Exchange of Australia and the London Stock Exchange. The company is the third largest publicly traded mineral sands company by zircon resources globally, with key deposits located in Central Kalimantan, Indonesia. PYX is committed to responsible mining and community investment, focusing on developing its Mandiri and Tisma deposits and expanding its mineral sands assets in Asia.
YTD Price Performance: -16.50%
Average Trading Volume: 307,831
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £102.3M
See more insights into PYX stock on TipRanks’ Stock Analysis page.