Highlights
- Continued upswing in premium Zircon production with a second half 29% YoY increase and a total 31% increase in FY2023 compared to the corresponding period in FY2022
- Zircon sales have witnessed an impressive surge with a second half year 2023 increase of 18%, and a 24% increase for FY 2023 compared to FY2022, reflecting the demand for PYX's high quality premium zircon
- Premium Zircon Inventory up 22% to 17.1 days (2022: 17.5 days)
- PYX encourages diversity and inclusiveness in the workforce. In the FY2023 the Company saw a 5pp increase in female employment and 2pp in indigenous (Dayak) employment
- Continued to maintain a safe and secure working environment with zero recordable injury frequency rate for the period.
- Submitted Communication of Progress ("CoP") report to the United Nations Global Compact as part of its commitment to upholding the
- Positive regulatory environment - the Company announced the receipt of a two-year licence to extract and process up to 94,000 tonnes per year of minerals from its
PYX continues to set industry standards and remains optimistic about the Company's trajectory in the coming years. In the 12 months ended
The second half of the year showed an encouraging progression with a premium zircon production of 6.1kt (+29% YoY increase). Zircon sales followed the same trend, showing an impressive surge during the second half year 2023 of 6.2kt (+18% YoY increase).
In the last few years, PYX has been able to secure a global, diversified client base. This has proved instrumental in securing continued sales in FY2023, particularly as demand for mineral sands retracted in
We remain steadfast in our ambition for growth, facilitated by
PYX Cares Programme
PYX is continually improving its integration of the United Nations Global Compact into the Company's daily operations, culture and business strategy while simultaneously engaging in collaborative projects to advance broader development goals of the
In the Annual Communication on Progress, the Company outlined its continuous commitment to the Global Compact in daily and future operations. Internally PYX has made important progress in equality by increasing its female employment to 28%, which is up 5 percentage points compared to 2022. In the same way, the Company has increased its Dayak employment (Indigenous) to 47% of the total work force, up 2 percentage points YoY.
Commenting on FY2023 achievements,
"I am immensely proud to share the achievements PYX has attained in the past year. Our robust performance in Q4 FY2023, marked by a 31% increase in zircon production, a 24% rise in zircon sales and renewal of key licenses for Tisma and Mandiri, reflects our unwavering commitment to excellence and sustainable business practices.
"As we reflect on our achievements, we are excited about the growth prospects for 2024. Despite the challenges posed by the 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
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5J735G4F
About
Contact:
ir@pyxresources.com
Tel.: +61 2 8823 3132
Copyright (C) 2024 ABN Newswire. All rights reserved., source