Iluka production up as Sierra Rutile plays in
JOHANNESBURG (miningweekly.com) - Mineral sands producer Iluka on Monday reported a 22% increase in its yearly production of zircon, rutile and synthetic rutile, at 825 000 t.
The ASX-listed company attributed the increase to the inclusion of Sierra Rutile's production of 171 000 t, following the acquisition of the Sierra Leone-based operations in December 2016.
The group's full-year production was slightly higher than its guided 795 000 t, mainly owing to operational efficiencies at Sierra Rutile.
Fourth quarter production amounted to 169 000 t, 17% lower than the third quarter, owing to the conclusion of processing heavy mineral concentrate at the Hamilton plant, in the Murray Basin, Victoria. Iluka idled the Hamilton plant in October and will only process Australian production at the Narngulu mineral separation plant in Geraldton, Western Australia, going forward.
"Market conditions have remained robust across mineral sands in the fourth quarter and the outlook continues to be positive, with full-year sales volumes up 27% to 889 000 t," the company noted.
It highlighted that further positive indicators in the zircon and high-grade titanium dioxide markets were evident, with the momentum continuing throughout the fourth quarter. "We anticipate, in the absence of a deterioration in global economic conditions, favourable market conditions to continue through 2018," Iluka said.
Looking ahead, the miner would continue to develop its $275-million Cataby chloride ilmenite-rich deposit, 150 km north of Perth.
The mine development was approved in December 2017, with first production planned for 2019. The mine will produce about 200 000 t of synthetic rutile, 50 000 t of zircon and 30 000 t of rutile on average over an 8.5 year mine life.
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