Mineral sands miner Iluka Resources Ltd
(ASX:ILU) has reported a 37.5% fall in sales revenue for the 2009 calendar year, however the miner says revenue increased appreciably in the second half.
Mineral sands revenue for the 12 months to December 31 dropped 37.5 to $533 million, after currency hedging, reflecting significantly lower global demand for mineral sands products particularly in the first half of 2009.
Zircon sales volumes plunged 54% year on year, rutile down 14%, synthetic rutile falling 22% and ilmenite dropping 41%.
Iluka Resources posted a profit of $77.5 million for the 2008 calendar year.
