Short-Term Iron Ore Boost Adding to Positive from Long-Term Challenges to Mineral Sands Supply
Iluka’s 2018 adjusted net profit after tax more than tripled to AUD 304 million versus AUD 96 million in 2017. It was a strong result and better than our AUD 254 million forecast with non-production related costs less and revenue better than expected. The impressive uplift was driven by higher prices, which added AUD 265 million to net profit. The realised zircon price rose 41% to AUD 1,321 per tonne and rutile 21% to AUD 952 per tonne. Higher unit costs and lower sales volumes were partial offs...Iluka Resources is engaged in mineral sands exploration, project development, operations and marketing. Co. is a producer of zircon and titanium dioxide products, as well as rutile and synthetic rutile products. These products are used in a range of applications. Co.'s segments include Australia, which comprises the integrated mineral sands mining and processing operations in Victoria, Western Australia and South Australia; United States, which includes its mineral sands mining and processing operations in Virginia; and Mining Area C, which comprises a deferred consideration iron ore royalty interest over certain mining tenements in Australia operated by BHP Billiton Iron Ore.
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