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Iluka acquisition of Sierra Rutile set to proceed

  • Autores: Kasia Patel, Myles McCormick
  • Localización: Industrial Minerals, ISSN 0019-8544, Nº. 586, 2016 (Ejemplar dedicado a: Septiembre)
  • Idioma: inglés
  • Texto completo no disponible (Saber más ...)
  • Resumen
    • Iluka's chairman, Greg Martin, said in a statement dated 1 August the move was "consistent with Iluka's approach to act in a counter-cyclical manner" and that it represents "a logical combination of complementary businesses at this point in the mineral sands cycle".

      Following closure of the deal, expected between September and November this year, Iluka will gain control of Sierra Rutile's Sierra Leone-based operations, doubling its rutile resource base and adding output of around 130,000 tpa rutile, a figure that is said can be expanded to 240,000 tpa.

      "Iluka has seen highly encouraging trends in terms of demand for high grade feedstock, including several customers bringing forward contracted volume," the Australia-based company outlined in its H1 update. "This is a positive indicator in terms of the potential for additional volumes in the second half and in terms of conditions leading into 2017."


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