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Author: Admin | 2025-04-28
At Lynas Malaysia, total costs reduced by 17 percent in FY24 vs FY23, a reflection of the continued focus on capturing efficiencies across the business,” she wrote. 2. Iluka Resources (ASX:ILU)Market cap: AU$2.91 billionShare price: AU$6.82Iluka Resources is advancing its Eneabba rare earths refinery in Western Australia with significant backing from the Australian government, which aims to bolster the country’s footprint in the global rare earths market by tapping into its abundant reserves. The company also owns zircon operations in Australia, including Jacinth-Ambrosia, the world’s largest zircon mine. Iluka secured an AU$1.25 billion non-recourse loan for Eneabba under the AU$2 billion Critical Minerals Facility administered by Export Finance Australia. This funding will support the development of a fully integrated refinery capable of producing both light and heavy separated rare earth oxides. The facility will process material from Iluka’s own feedstocks and third-party suppliers, with initial production expected to commence by 2025.Additionally, Iluka is progressing its Wimmera project in Victoria, focusing on mining and beneficiation of fine-grained heavy mineral sands in the Murray Basin. This project aims to supply zircon and rare earths over the long term. A definitive feasibility study for Wimmera is scheduled for completion by the end of 2025.In the company’s Q2 quarterly results, Iluka noted that Q2 activity at Eneabba included the ‘progression of major engineering packages, conclusion of camp accommodation works and preparation for commencing the next phase of site works.’On August 21, Iluka released its half year results, which included a AU$106 million revenue decrease
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