PYX Resources Limited announced that it has approval to extract and process a combined 94ktpa of Premium Zircon, Ilmenite and Rutile from the Company's flagship project - Mandiri. The 2024 & 2025 Mandiri RKAB Work Plan and Budget, approved by the Indonesian authorities includes: Mining operations; Processing and refining; Marketing and shipping; Environment; Mining safety; Training; and Community development and empowerment. The receipt the Work Programme & Budget/Rencana Kerja dan Anggaran Biaya (WP&B/RKAB) from the Indonesian Energy and Mineral Resources Department (ESDM), is valid for two years, 2024 and 2025.

The licence allows the Company to export: A total of 24kt per year of Premium Zircon with grades of 65.5% divide into: Export market: 19,200 ton/year; Domestic market: 4,800 ton/year. A total of 50,000 Wet ton ("WE")/year of Ilmenite with 45% grades divided into: Export market: 40,000 WE/year; Domestic market: 10,000 WE/year. A total of 20,000 WE/year of Rutile with 90% grades divided into: Export 16,000 WE/year; Domestic 4,000 WE/year.

The Mandiri project has been in production since 2015 and is the 3rd largest zircon producing mining company globally by zircon resources. The project covers a licensed concession area of 2,032 hectares near Kuala Kurun City in the Gunung Mas Regency of Central Kalimantan, Indonesia and it is devoted to the exploration of mineral sands products and the production and export of premium 65.5 grade zircon.