Iluka Resources Limited (ASX:ILU) has seen net profit fall 66 per cent in the first half of 2014 to $11.7 million.
The mineral sands miner has blamed the slide on lower prices with mineral sands revenue falling 10 per cent to $343.2 million.
Managing Director David Robb says earnings reflect lower prices for received products as well as a lower contribution from the Mining Area C iron ore royalty.
Mr Robb says Iluka is prepared to act counter cyclically, in a disciplined manner.
An interim dividend of $0.06 fully franked will be paid on 3 October.
