RE: Spread24 Mar 2026 14:33
The company is currently navigating a period of operational recovery following significant regulatory disruptions in late 2025.
Permit Approvals: As of late February 2026, reports indicate that PYX has secured the necessary 2026 RKAB (Work Plan and Budget) permits from the Indonesian government. These approvals are critical for resuming production and export activities.
Regulatory Context: Operations were previously suspended due to a shift in the Indonesian annual work plan system and the expiration of the Mandiri mining license (IUP) in August 2025.
Mandiri Deposit: A 2,032-hectare licensed concession in production since 2015, focusing on premium 65.5 grade zircon.
Tisma Project: A 1,500-hectare licensed deposit containing an estimated 4.5 million tonnes of zircon along with rutile and ilmenite by-products.
Zircon Pricing: The company is benefiting from a recovery in market prices; premium grade zircon averaged US$2,150 per tonne in February 2026, an 8% increase from 2025 levels.