(Alliance News) - PYX Resources Ltd on Tuesday said it has connected its Mandiri mineral separation plant to the local electric grid of Central Kalimantan, Indonesia.
The Indonesia-focused zircon and mineral sands producer said connection to the grid expected to save over 80% of fuel costs.
With a 99% uptime guarantee, it also said grid connection also reduces carbon footprint and makes operations more sustainable.
PYX Resources said this milestone will help increase production, cut costs, and boost operational margins.
"We are very happy with the continuous progress made at Mandiri's MSP and appreciate the help received by the local authorities, and in particular the State Electricity Co in Palangkaraya. Anyone running a mining operation will understand the importance of having access to continuous reliable power, provided by the connectivity to a grid," said Chair & Chief Executive Officer Oliver Hasler.
"Although the generators we have been using on site have enabled us to progress operations so far, they were fuel and maintenance intensive and represented a significant proportion of our [operating expenditure]. Aside from the operational benefits, the grid connectivity will make our operations cleaner, and it is another excellent example of our focus on sustainability and improving our daily productivity and bottom line."
Shares in PYX Resources were up 0.8% to 10.18 pence each in London on Tuesday afternoon.
By Greg Rosenvinge, Alliance News senior reporter
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