ASX:ILU

5 stories mentioning ASX:ILUUpdated just now

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Civmec's Recent Contract Awards Represent 'Solid Work in Hand Position' Heading Into Fiscal 2027, Euroz Hartleys Says

Civmec's (ASX:CVL) recent contract awards increased the company's order book to a record AU$1.5 billion, representing a "solid work in hand position" and potentially setting the company up for more than AU$1 billion of revenue in fiscal 2027, Euroz Hartleys said in a Friday note.The awards include a number of panel agreement extensions, new orders across maintenance, a major construction contract for the Perth Park, as well as work at Iluka Resources' (ASX:ILU) Eneabba rare earths refinery in Western Australia.Euroz Hartleys increased its fiscal 2026 revenue forecast for the company to AU$880 million, and earnings before interest, taxes, depreciation, and amortization (EBITDA) estimate to AU$101 million. For fiscal 2027, it raised the revenue forecast to about AU$1.02 billion and EBITDA outlook to AU$111 million."In our view the combination of this increased operating cadence and enhanced revenue visibility provides greater confidence in the earnings trajectory into [fiscal 2027] and underpins our upgraded forecasts," the equity research firm said.Euroz Hartleys maintained a buy recommendation on Civmec while upgrading the price target to AU$2.37 from AU$1.67.

ASX:CVLASX:ILU

Asia14d ago

Civmec Lifts Order Book to AU$1.5 Billion on Contract Awards

Civmec (ASX:CVL) said it has secured a series of new contract awards, panel extensions and orders across its resources, infrastructure, energy and maintenance divisions, lifting its order book to a record AU$1.5 billion, according to a Friday filing with the Australian bourse.Major contract awards include a structural, mechanical, piping, electrical, and instrumentation installation package at Iluka Resources' (ASX:ILU) Eneabba Rare Earths Refinery in Western Australia, expanding the company's scope and supporting commissioning in mid-2027, per the filing.The company has also secured its portion of the alliance contract to deliver the Perth Park entertainment and sporting precinct on the Burswood Peninsula, with completion anticipated in late 2027, the filing said.The company also secured additional maintenance and manufacturing contracts and panel extensions across lithium, rare earths, iron ore, coal, alumina, hydrocarbons, and other critical minerals, with increased early contractor involvement activity strengthening its forward pipeline and regional facility utilization, the filing added.

ASX:CVLASX:ILU

US Markets28d ago

Arafura Rare Earths Directors Approve Construction of $1.6 Billion Rare Earths Project

Arafura Rare Earths (ASX:ARU) directors made a final investment decision for the Nolans Rare Earths Project in the Northern Territory, Australia.The decision marks the approval of the construction of the rare earths project, set to be Australia's first fully integrated ore-to-oxide rare earths operation, according to a Thursday disclosure to the Australian Securities Exchange.Arafura will then become Australia's third-largest rare earths producer after Lynas Rare Earths (ASX:LYC), the world's largest producer outside of China, and Iluka Resources (ASX:ILU), Reuters reported separately the same day.Arafura Rare Earths' $1.6 billion project will help deliver 4,440 metric tons of neodymium-praseodymium oxide.The project will supply 1,500 tonnes per annum to South Korea's Hyundai Motor( KRX:005380) and Kia (KRX:000270), equivalent to a 42% offtake.Germany's Siemens Gamesa will purchase 520 tonnes per annum, while Traxys in Europe and North America committed to an 800-tonne offtake.Arafura's decision comes after the Australian government committed AU$1.2 billion for its critical minerals strategic reserve, following confirmation from Canberra that the project will be eligible for the reserve, the Trade and Tourism Ministry said the same day.Export Finance Australia has issued a non-binding letter of support for an offtake of up to 500 tonnes per annum, which will be funded through the reserve.The company also signed investment deals with Germany and Australia for AU$230 million, while the Export-Import Bank of the United States is considering up to $300 million of financing support for the project.The project will create 600 construction jobs and 350 ongoing jobs upon the start of operations.Arafura's project comes as the U.S. is looking to reduce dependence on China for rare earths, the Wall Street Journal reported the same day."The world needs critical minerals, Australia has plenty of them, and we're helping workers and businesses make the most of this big opportunity," Treasurer Jim Chalmers said in a statement.

ASX:ARUASX:ILUASX:LYCKRX:000270KRX:005380

Research55d ago

Ord Minnett Upgrades Iluka Resources to Hold from Sell; Price Target is AU$8

ASX:ILU

Asia58d ago

Iluka Resources Reports Lower Production, Revenue for Q1

Iluka Resources (ASX:ILU) reported first-quarter zircon, rutile, and synthetic rutile production of 47,600 tonnes, down nearly 64% from 130,700 tonnes a year earlier, according to a Wednesday filing with the Australian bourse.The decline comes as the company's Cataby mine in Western Australia is idled and not producing heavy mineral concentrate, including no production of zircon or rutile, per the filing.Additionally, Iluka Resources reported mineral sands revenue of AU$147 million for the March quarter, down from AU$260 million in the year-ago period. The company said the Middle East conflict has reinforced cautious business sentiment across its end markets, and the greater uncertainty has impacted customer purchasing activity.

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