Iluka revenues soar
PERTH (miningweekly.com) – Revenue from mineral sands sales from ASX-listed Iluka Resources increased by 118.5% during the three months to March, compared with the previous corresponding period, reflecting an increase in sales volumes.
Total revenue for the quarter reached A$218.5-million, compared with A$102.1-million in the previous corresponding period, as total mineral sands production increased from 232 200 t to 336 900 t.
Iluka said on Thursday that improved mineral sands market conditions were evident in the first quarter of 2017, with the company recording a 131.5% increase in total zircon, rutile and synthetic rutile sales volumes, compared with the first quarter in 2016.
Higher weighted average received prices were also recorded for both zircon and rutile.
The production and sales volumes are inclusive of Sierra Rutile, which Iluka recently acquired.
During the quarter under review, Iluka’s only operating mine continued to be the Tutunup South operation, which is the principal source of ilmenite for the synthetic rutile kiln in the south-west of Western Australia.
The Jacinth-Ambrosia mine remained suspended, to enable Iluka to further draw down on heavy mineral concentrate inventories.
During the quarter, the company processed some 154 000 t of heavy mineral concentrate and processed 366 000 t.
Meanwhile, Iluka on Thursday flagged that operations at its Hamilton processing plant, in the Murray basin in Victoria, will be suspended from October this year, as the plant will only be processing the remaining heavy mineral concentrate from the Murray Basin operation.
The suspension of Hamilton will last until Iluka’s next planned mining development in the region, the Balranald deposit, in New South Wales.
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