Fourth Price Adjustment by Pyx Resources Limited (NSX: PYX) for Premium Zircon

Fourth Price Adjustment for Premium Zircon

Sydney, September 16, 2021 AEST (ABN Newswire) – PYX Resources Limited (NSX: PYX), a leading international producer of premium zircon, has announced that it will introduce its fourth price increase for its premium zircon this year. The new price, effective immediately, will increase by US$555 to US$2,305 per tonne.

Since the beginning of 2021, the Company has increased its prices by a total of US$910 per tonne over 4 separate price increases.

This latest price increase follows recent news of the closure of Rio Tinto’s Richards Bay Minerals operation in South Africa due to safety concerns and growing demand from China and the rest of the world. As a result, the global supply of premium zircon came under increased pressure, leading to higher prices.

PYX has already decreed three price increases this year, in March, May and June. These were driven by demand from China as its economy rebounded from COVID-19, South Africa’s supply issues and low inventory levels in China, which left a vacuum for the top quality zircon on the market.

The Company is the second-largest zircon-producing mining company in the world in terms of JORC-compliant zircon resources, following its acquisition of the Tisma mineral sands deposit in the central province of Kalimantan, Indonesia in mid-February. 2021, and demand for PYX’s premium zircon remains high. The product compares strongly to other zircons available on the market. Due to its low Al2O3 content and uranium + thorium content of less than 450 ppm, PYX’s premium zircon is ideal for creating fused zirconia and other high-tech products where standard zircon cannot. not be used.

PYX President and CEO Oliver Hasler said: “Recent news regarding the closure of all mining and smelting activities at Rio Tinto’s Richards Bay Minerals operations has introduced new tension into the global supply of premium zircon, driving up prices. Our customers have a preference for our superior product, and we will ensure that supply continues to meet global demand. »

High-grade zirconia is increasingly in demand for high-tech applications, such as yttria-stabilized zirconia (YSZ) for electrolyte material in solid oxide fuel cells, playing a key role in the shift to renewable energies. Zircon supports low-carbon electricity thanks to the unique properties of zirconium-based alloys, which make them ideal for use in nuclear reactors generating low-carbon electricity.

Zirconium compounds play an essential role in catalytic converters, helping to reduce emissions. Zircon has a very low environmental impact when produced and has a lower environmental impact than competing products in several key metrics, including a 16% lower Global Warming Potential (GWP) compared to alumina.

About Pyx Resources Limited

PYX ResourcesPYX Resources Limited (NSX:PYX) (LON:PYX) is a global premium zircon producer listed on the Australian National Stock Exchange and the London Stock Exchange. The Company’s flagship asset is the Mandiri mineral sands deposit, located in the alluvial sediment-rich region of Central Kalimantan, Indonesia. Boasting the 5th largest zircon producing deposit in the world, PYX is a large-scale, near-surface open pit mining in production since 2015 and with exploration to date validating the presence of other valuable heavy minerals such as rutile, ilmenite among others in its mineral sands.

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Eleanor C. William