Operations Commence at Strategic Logistics Facility
Sydney, Nov 30, 2022 AEST (ABN Newswire) - Major and sustainable global producer of premium zircon, PYX Resources Limited (LON:PYX) (NSX:PYX) is pleased to announce it has started using a key logistics and inventory storage opportunity based on Kuala Lumpur's Port Klang port infrastructure.
Port Klang is the second biggest port in the Southeast Asia region, marginally outside of the world's top 10, with its traffic reaching 13.7 million TEU in 2021. It is situated on the west coast of the Malay Peninsular on the Malacca Strait and is on one of the busiest shipping lanes in the world. Compared to PYX's actual logistics from Banjarmasin to Jakarta, Port Klang has an increased connectivity, more competitive port facility, higher efficiency, lower cost factors, excellent information systems and a green port management. The Free Commercial Zone permits the Company to carry out trade and manufacturing activities.
The new storge option will provide significant benefits to PYX and its international clients, by:
- Reducing shipping time to end-use markets by several weeks compared to shipping directly from Banjarmasin in Indonesia.
- Increasing predictability of shipments and onward arrival times.
- Reducing shipping costs to many key markets; India, Europe and Americas.
- Providing a well-placed buffer stock to negate the effects of seasonal storms and other supply chain issues (which have hampered global supply chains recently).
PYX Resources' Chairman and Chief Executive Officer, Oliver B. Hasler, said: "Port Klang is a bonded, free-trade, logistics hub perfectly suited to provide a low cost, rapid response logistics centre plugged into global markets.
"Having this additional, world-class facility allows PYX to tap into Metal and Mineral Trading Company Wogen's supply chain, which assists PYX's cash flow and allows for a more mature and sophisticated sales approach.
"Our customers will gain significant benefit from the substantial improvements this new facility will bring to our logistics and handling as we grow the supply of our premium zircon product to global markets."
About Wogen (www.wogen.com)
Wogen was created in 1972 and is a leading international trader of off-exchange specialty metals and minerals, with a particularly strong presence in China, Asia and Europe. During the company's 47-year history it has developed a strong management team as well as a broad range of suppliers and customers around the globe, based on long-term relationships, giving unique market insights both on the demand and the supply side.
Wogen's various business models include trading as a principal, providing sales & marketing distribution for producers and miners, and sourcing material for consumers on a global scale.
Headquartered in London, Wogen has offices in Beijing, Shanghai, Guangzhou, Hong Kong, Moscow, Cleveland and Johannesburg and is represented by agents in the other major economies of the world.
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.
Pyx Resources Limited