Iluka boosts zircon and rutile output, may restart WA operations
PERTH (miningweekly.com) – Mineral sands miner Iluka on Thursday reported an increase in production and sales for the year ended December 31, with the miner remaining hopeful of a potential recovery in demand.
Iluka said its combined production reached 535 000 t in 2014, compared with 471 000 t in 2013, reflecting an increase in zircon and rutile output, which was offset by the lack of any synthetic rutile production during the year.
Operations continued as normal at the company’s Jacinth-Ambrosia mine, in South Australia, and at the Woomack, Rownack and Pirro operations, in Victoria. The Tutunup South operations, in Western Australia, remained idled during the year, as part of the company’s initiative to idle all synthetic rutile kilns in the sate.
Activities were under way to prepare for a possible restart of mining at Tutunup South next month, to produce and stockpile ilmenite in advance of a kiln restart, which would be subject to the finalisation of appropriate commercial arrangements.
Meanwhile, sales volumes for the year increased by 5%, to 616 000 t during 2014, compared with the 584 000 t delivered in 2013.
Iluka noted that the sales outcome was consistent with the company’s expectation, with the sales volume mix reflecting areas of softer global demand for zircon year-on-year, and recovering demand for high-grade titanium dioxide feedstocks.
Some 352 000 t of zircon was sold during the full year, along with 182 000 t of rutile, and a further 317 000 t of ilmenite.
Despite the increase in sales volume, full-year revenue declined from the A$763-million achieved in 2013, to A$725-million, on the back of lower commodity prices.
The revenue per tonne of mineral sands sold during 2014 declined by about 12%, Iluka told shareholders, mainly as a result of a moderation in high-grade titanium dioxide prices and some sales mix factors.
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