Synthetic rutile sales won't meet target - Iluka
PERTH (miningweekly.com) – Mineral sands miner Iluka on Friday warned shareholders that synthetic rutile sales under its existing take-or-pay contracts for 2020 were unlikely to meet the targeted 175 000 t.
The ASX-listed company noted that in the year to date, only 78 000 t of synthetic rutile had been sold under these contracts.
The miner has issued a notice of default to one of its customers for failing to take or pay for 20 000 t of synthetic rutile, which had been scheduled for shipment in May. While the customer has issued a notice referring to a range of matters, Iluka was disputing the validity of the notice and would continue to "negotiate an appropriate commercial outcome", the company said.
Furthermore, a second customer has also notified the company that it could potentially be entitled to take less than its contracted amount of synthetic rutile for a period of at least three months.
These issues are likely to impact a 12 000 t shipment in September, Iluka said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation