Temporary Production Headwinds for Iluka Sees Value Emerging
A couple of clouds have gathered around Iluka in the form of a strike and worse than expected mining performance at the company’s operations in Sierra Leone. More importantly, the underperformance of the dredge at Sierra Leone, set to decommission in early 2019, sees some investors questioning Iluka’s substantial investments to expand production at Sierra Rutile. The new production issues build on unpleasant news in August. Unplanned first-half outages at Sierra Rutile raised the expected fiscal...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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