Iluka Resources see zircon sales affected for the quarter

Company News

by Rachael Jones

Iluka Resources (ASX:ILU) released their quarterly review today showing they produced less zircon and mineral sands in the 2019 June quarter than the 2018 June quarter.

Zircon sales were affected by trade and geopolitical tensions impacting sentiment in key markets.

The company’s $270 million Cataby project has been commissioned and first production of heavy mineral concentrate achieved during this period.

Mineral sands revenue fell 10.1 per cent year to date (YTD) compared to June 2018 figures while total cash costs of production rose by 12 per cent.

Shares in Iluka Resources (ASX:ILU) trading 6.8 per cent lower at $10.36.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.