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Iluka Resources Posts Lower Q2 Zircon, Rutile, Synthetic Rutile Production

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Iluka Resources (ASX:ILU) reported zircon, rutile, and synthetic rutile production of 58,000 tonnes and sales of 157,000 tonnes for the second quarter ended June 30, according to a Tuesday Australian bourse filing.

The company reported zircon, rutile, and synthetic rutile production of 149,700 tonnes and sales of 132,700 tonnes in the same period last year.

The company said that expected full year final product volumes from Balranald operations are now lower than were included in group zircon, rutile, and synthetic rutile production guidance as provided in February, as full year zircon production volumes are in line with guidance of 180,000 tonnes, but now a more even split between sand and zircon-in-concentrate.

Iluka expects full-year mineral sands capital expenditure to be about AU$115 million and first half underlying mineral sands earnings before interest, taxes, depreciation, and amortization to be about AU$40 million, with a net loss after tax of about AU$25 million, subject to review.

As of June 30, net debt was AU$273 million for the mineral sands business and AU$877 million non-recourse net debt for the rare earths business.

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