Iluka Resources Ltd (ASX:ILU) is gearing up to increase production to capitalise on higher prices for its products.
The mineral sands producer has already increased zircon production rates to record levels as it moves to take advantage of demand for zircon and other mineral sands.
Speaking at the company’s annual meeting, CEO David Robb did not disclose the exact volumes being targeted, but did say that Iluka would approach production in a measured way with less capital cost and risk.
Mr Robb also advised that the company’s direct customers in China have now grown to 150.
Just last month Iluka posted a 51 per cent increase in first quarter revenues and advised that zircon and rutile production volumes had met or exceeded expectations.
In the 2010 financial year Iluka Resources moved from a loss to a net profit of $36.1 million.
