|
PYX Resources Ltd - Indonesia-focused zircon and mineral sands producer - Says it has been notified by local authorities in Central Kalimantan, Indonesia, of an increase in royalties for the export of zircon, rutile and ilmenite. The royalties have risen to 20% of a newly defined base price of Rp4.8 million per tonne, or around $59 per tonne. Previously, royalties were 4% of the base price adopted in 2022 of Rp3.0 million per tonne. The local royalty tax is in addition to the current 1.5% export tax. PYX is in contact with the relevant regional agencies to seek a reversal of the decision, or change the perimeter of the royalty application. Chair & Chief Executive Officer Oliver Hasler says: ‘This new increase in royalties results in a big impact to the Indonesian mineral sands industry. We hope that our meetings with the local authorities come to a constructive end.’ Current stock price: 2.00, closed down 19% in London on Friday 12-month change: down 86% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
