PYX Resources Lt has welcomed a change in the law in Indonesia to allow the export of ilmenite and rutile.
Ilmenite and rutile that meet a minimum grade of titanium dioxide (TiO2) can now be exported as non-metal commodities.
PYX Resources, which already exports another mineral sand in premium zircon, expects to be granted an export licence for titanium dioxide from Indonesia’s trade department "imminently".
Once received, PYX said it will start to export its titanium stockfeed inventory, which currently stands at 8,300t.
Titanium feedstock production is a US$4.5 billion per annum industry, said PYX, which operates in Kalimantan.
Oliver Hasler, PYX's chairman and chief executive, commented: "This is a significant milestone for PYX Resources, and we are excited to be able to add our high-quality ilmenite and rutile by-products to our premium zircon product.
“This law change will allow us to contribute to the development of international supply chains and generate increased revenue and profitability for our business.“