Iluka Resources
(ASX:ILU) has provided an end of financial year update on its Australian mineral sands operations.
The company says it continues to be encouraged by the improvement in the mineral sands market, hence the restart of Jacinth-Ambrosia in the Eucla Basin in South Australia.
Iluka says approximately 40 employees and 60 contractors will be recruited to support the restart.
Restart costs are expected to be $7 million and production costs around $6 million.
Jacinth-Ambrosia remains the primary source of Zircon for Iluka.
Shares in Iluka Resources closed 3.37 per cent lower at $8.02.
