.IlukaResources will invest A$480million in a new criticalminerals project in NSW mining resources investment jobs Australia
PERTH – ASX-listed Iluka has taken a final investment decision on the A$480-million Balrandald critical minerals project, in New South Wales.
The company has invested substantially in this technology over a number of years and we are pleased and excited at the prospect of its first full scale commercial deployment. Revenue for the full year reached A$1.7-billion while Ebitda reached A$917-million. Net profits after tax were up 61% to A$589-million.
“Despite ongoing macroeconomic and geopolitical uncertainty, mineral sands markets proved resilient. Discipline was observable in many downstream sectors in the face of the energy crisis in Europe, inflationary pressures in the US and Covid-19 restrictions in China. This saw supply remain tight and inventories low, market features reinforced by continued production disruptions at other major mineral sands producers and as a result of Russia’s invasion of Ukraine.
“Additional feedstocks have been progressed from both internal and external sources, with an emphasis on securing Iluka’s competitive advantage in the valuable heavy rare earths dysprosium and terbium. At the Wimmera development, we have approved a definitive feasibility study and declared an ore reserve, marking a key milestone for what is a potential multi-decade critical minerals province.”
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