Mineral sands companies, Iluka Resources
(ASX:ILU) and Sierra Rutile, have held discussions about a potential merger which was supposed to have been finalised on 29 November 2016.
The merger was delayed due to concerns which Iluka had over Sierra Rutile’s tailings dams in Sierra Leone.
Now it seems both parties have sorted out their differences, and all conditions precedent to the merger have been satisfied.
The merger is now expected to proceed, with the merger scheduled to close today.
Iluka posted a net loss of $20.9 million at 30 June 2016.
