RE: Floor test5 Feb 2026 13:10
Key Details on Investigations and Challenges:
Subsidiary Investigation: The Central Kalimantan High Prosecutor's Office is conducting a corruption investigation into PT Investasi Mandiri (PT IM), a subsidiary of PYX Resources, regarding alleged irregularities in the sale and export of mineral sands.
Suspects Named: Reports indicate that personnel from PT IM, including its President Director, have been named as suspects in this investigation.
Operational Impact: PYX has faced a suspension of its mining permits (RKAB) and export licenses for zircon, ilmenite, and rutile in Indonesia.
Production Halted: Due to these issues and regulatory changes in Indonesia, PYX reported that it did not undertake production activities in the first half of 2025.
Company Stance: PYX has stated that while it is not the subject of specific allegations, it is cooperating with authorities to ensure regulatory compliance.
Other Potential Issues:
Tax Disputes: One of PYX's subsidiaries has received and is challenging tax assessments amounting to approximately USD 2 million.
In summary, the company is managing a major, multi-faceted regulatory crisis in Indonesia that has halted production and involves criminal investigations into the actions of its local subsidiary.