PYX Resources Commences Operations at Strategic Malaysian Logistics Facility

Source: 11/30/2022, Location: Asia

Major and sustainable global producer of premium zircon, PYX Resources Ltd (PYX or the Company) (PYX | LSE: 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 Banjarmasinin 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."

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