Iluka Resources Limited ( (AU:ILU) ) has issued an announcement a company listed on the Australian Securities Exchange has issued a news release containing forward-looking statements These statements reflect the company’s current expectations but come with risks and uncertainties that could lead to different actual outcomes The release highlights potential impacts on Iluka’s operations which could affect the company’s project timelines and production schedules See more data about ILU stock on TipRanks’ Stock Analysis page Disclaimer & Disclosure Report an Issue Iluka Resources Limited ( (AU:ILU) ) has issued an announcement Disclaimer & Disclosure Report an Issue Iluka Resources delivered an increase in zircon-in-concentrate (ZIC) during the March 2025 quarter The rare earths producer’s overall production for the period was 131,000 tonnes (t), a slightly larger amount from the previous quarter The total comprised 35,000t of zircon sand 18,000t ZIC and 55,000t of synthetic rutile Iluka sold 116,000t of zircon/rutile/synthetic during the quarter which included 48,000t of zircon sand (premium and standard grade) a 116 per cent increase on the prior quarter Iluka has contracted approximately 46,000t of zircon sand sales and 32,000t of ZIC sales for the June 2025 quarter “The Jacinth-Ambrosia mine in South Australia produced 66,000t of heavy mineral concentrate (HMC), marginally higher than the 64,000t produced in Q4 (the December 2024 quarter),” Iluka said up from 128,000t in Q4 with higher ore volumes treated HMC processed in Q1 (the March 2025 quarter) was 205,000t “The Narngulu mineral separation plant (in WA) processed 116,000t of HMC a mix of Jacinth-Ambrosia and Cataby material producing a total of 53,000t of zircon (including ZIC) and 22,000t of rutile “(The) SR2 (kiln) produced 55,000t of synthetic rutile Exploration was also a highlight for Iluka with the company drilling 2906m at the Cataby mining operation in WA for resource evaluation With the US recently imposing tariffs on Australia Iluka noted the “heightened uncertainty” of the recent moves and light and heavy magnet rare earths are exempt “All of Iluka’s production takes place in Australia which is currently the subject of a 10 per cent blanket tariff for exports to the US,” Iluka said including light (neodymium and praseodymium) and heavy (dysprosium and terbium) magnet rare earths are exempt from the tariffs announced by the United States the Chinese Government added medium and heavy rare earths “This means that exporters to all markets globally now need a licence and must report to the Chinese Government on where these products are going.” Iluka’s Eneabba rare earths refinery in WA is expected to conclude detailed earthworks in the first half of 2025 (H1 2025) The facility will produce separated light and heavy rare earth oxides Iluka said “it will be the only material Western world producer of heavy rare earth oxides” Construction is also progressing at the Balranald resource development site in New South Wales with the project on track for commissioning in H2 2025 Iluka is expected to commence detailed engineering at the Wimmera resource development in Q2 2025 with the company currently progressing the project’s definitive feasibility study Subscribe to Australian Mining and receive the latest news on product announcements Australian Mining has informed the industry on the latest news and technologies from across the mining sector Australian Mining is a leading resource showcasing the latest in mining innovation Iluka Resources will implement a Honeywell-made distributed control system at its Eneabba rare earths refinery which is scheduled for commissioning in 2027 The refinery will work with rare earths used in defence sustainable energy and agriculture applications Honeywell said in a statement that the refinery would make use of its Experion process knowledge system (PKS) This will give Iluka "a fully integrated automation system" for "plant-wide control of its facility" The vendor added that the system "will help Iluka minimise incident risks while maximising production uptime" and comes with cyber security protections for the refinery's operations Iluka Resources project director Craig Renner said the refinery "is a significant project that underscores the importance of expanding the critical minerals sector in Australia and diversifying the rare earths supply chain." would be used to "increase productivity at the refinery while keeping our most important assets Palm Beach oceanfront dream house is all dolled up for saleHope Coumbe Buyers looking for a slice of paradise in the exclusive suburb made famous by Aussie TV soap Home and Away should look no further than 104 Iluka Road, Palm Beach 104 Iluka Road, Palm Beach Facing directly onto the quiet and exclusive Snapperman Beach this unconventional and vibrantly designed 613sqm haven is a Barbie lover’s dream four-bathroom property is set over two levels and includes a bunk room Renovated extensively and curated with mid-century Palm Springs décor LJ Hooker Palm Beach agents David and Bj Edwards have labelled the home “more than just a residence” “It is a statement – a testament to luxury living,” the listing states “Every inch of this property has been thoughtfully curated.” The ground floor of the home features a large rumpus room An expansive and eye-catching bright pink kitchen featuring banquet style dining with bench seating completes the space a main bedroom with ensuite and three other bedrooms are interspersed with a family bathroom Entertainment opportunities are in abundance in this unusual with the upstairs bar equipped with its own beer tap An outdoor covered seating space also makes the home the perfect paradise for hosting guests The pièce de resistance of the home’s whimsical character multi-storey slide for those days where taking the steps feels too conventional The exclusive waterfront property also has space for four cars meaning there is plenty of room for family and guests to come and go with ease the new owner of this quirky property will have easy access to nearby Ku-ring-gai National Park and boutique shops round out the enviable local offerings the home’s famous location puts it front and centre in the suburb with a median sale price well over $5 million third parties have written and supplied the content and we are not responsible for it completeness or reliability of the information nor do we accept any liability or responsibility arising in any way from omissions or errors contained in the content We do not recommend sponsored lenders or loan products and we cannot introduce you to sponsored lenders We strongly recommend that you obtain independent advice before you act on the content realestate.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd. By accessing or using our platform, you agree to our Terms of Use. RareX and Iluka could feed a WA rare earths refinery with material from across the Indian Ocean in Kenya Your standout small cap resources stocks for Tuesday Enhancing its role in the critical minerals space is RareX through a consortium with $1.62bn producer Iluka Resources (ASX:ILU) to apply for the Mrima Hill rare earth project in Kenya and the proposed formation of a special purpose vehicle (SPV) for its de-risking and development Mrima Hill is a globally significant rare earth project in Kwale County in Kenya next to a sealed highway and close to geothermal power grids Formal submission for Mrima Hill has been made by the consortium to Kenya’s National Mining Corporation (NAMICO) under Kenya Mining Act chapter 306 will see the proposal presented to the cabinet secretary for Mining Blue Economy and Maritime Affairs to contemplate the formation of a joint venture with NAMICO The SPV will allow RareX to take the lead in the project focusing on community engagement environmental protection and technical derisking through studies and field work aligned to RareX’s skills and experiences from its Cummins Range project Iluka will be granted 25% ownership in the SPV with RareX for at least a 20% economic interest in the project throughout the prospecting licence phase and until a Mining Licence is granted The consortium agreement includes a binding conditional offtake term sheet with Iluka for all rare earth and heavy mineral product from Mrima Hill with rare earths having the potential to feed Iluka’s Eneabba refinery in Western Australia which is under construction and supported by an $1.65bn Federal Government non-recourse loan “This agreement shows that RareX has got significant ambition in the rare earth space,” RareX’s managing director James Durrant said “That’s exactly what the company was set up for to go after large-scale rare earth projects that will participate in the global supply chain which is Australia’s largest undeveloped rare earth project This one we targeted in Kenya is one of the largest known deposits still fairly early stage and needs de-risking “Iluka has got a whopping great facility that’s taxpayer funded with a $1.65bn loan from the Australian government to establish a western-orientated rare earth oxide facility proximal to major capital centres,” Durrant said “This agreement could materially support the Eneabba facility in being a potential option for long-term quality feedstock – bringing concentrate into Australia from abroad for processing.” To achieve a social licence to operate RareX which has been as much as 24.4% higher to 4.6c before an afternoon retrace intends to build local teams with support from experienced companies that specialise in community development relevant teams previously established to support the Kwale Mineral Sands Operation which has entered its closure phase previously owned by Australian company Base Resources (ASX:BSE) “This partnership will enable RareX to leverage Iluka’s expertise and resources as we work toward creating a major where the rare earths components are integrated with an Australian the project could become part of a unique and independent mine to rare earth metal solution and could contribute to deeper diplomatic relations between two Commonwealth countries both non-NATO strategic allies of the US and both members of the Indian Ocean Rim Association “Our proposal would allow Australia to provide the complex rare earth value-add in a critical metals value chain whilst providing Kenya with a major mining project and a domestic supply of manganese niobium and phosphate for the local steel and agricultural sectors.” In a significant boost for Jindalee Lithium the company’s McDermitt lithium project is one of just 10 mining projects across the US to be granted FAST-41 ‘Transparency Project’ status and investors initially welcomed the designation with JLL shares as much as 65% higher to 42c before a colossal afternoon crash that saw its share trip into the red FAST-41 is a legislatively established process for improving federal agency coordination and timeliness of environmental reviews for infrastructure projects as established by Title 41 of the Fixing America’s Surface Transportation Act The permitting progress of the initial 10 can be publicly tracked part of what the Trump administration calls a push for greater transparency and faster permitting Many more projects are expected to be added to the list on a rolling basis over the next few weeks “This transparency leads to greater accountability ensuring a more efficient process,” the White House said in a statement duplicative processes and regulatory paralysis have delayed the development of the minerals America needs to power everything from national defense systems to smartphones,” said acting assistant secretary for Land and Minerals Management Adam Suess “By cutting red tape and increasing accountability we’re making it clear that under President Trump the United States is serious about being a global leader in critical minerals.” One of the primary barriers to unlocking America’s mineral wealth is the lengthy and often duplicative permitting process which can stretch seven to 10 years for a single mine countries like Australia and Canada complete permitting in as little as two to five years This permitting gridlock discourages domestic production drives up costs for American manufacturers and increases dependence on foreign adversaries Jindalee said this highlighted McDermitt’s strategic importance and growing profile in bolstering US critical minerals supply chains and energy security “Being named among the first 10 FAST-41 Transparency Projects validates McDermitt’s strategic importance to US mineral security” Jindalee’s CEO Ian Rodger said “Inclusion on the Federal Permitting Dashboard highlights our project’s national significance offering greater transparency and federal support to advance our Exploration Plan of Operations (EPO) currently in the final stages of National Environmental Policy Act (NEPA) review with an Environmental Assessment recently published for public comment the EPO will allow further on-site activity including drilling to provide additional geological and environmental data as well as fresh samples for geotechnical studies and further metallurgical test work “Jindalee remains committed to developing McDermitt transparently and responsibly collaborating closely with federal and state agencies to realise this critical US lithium asset’s full potential.” New ASX silver player Errawarra Resources expects to start drilling within six weeks at the Elizabeth Hill mine with the aim of giving one of Australia’s highest grade silver mines a new lease on life It is the latest step in Errawarra’s transformation into silver with a May 19 general meeting date set to approve the acquisition of a 70% stake in the historical mine in WA’s Pilbara ERW is already well advanced on exploration plans for the mine which produced 1.2Moz of the precious metal at a head grade of 2194 grams per tonne before its closure in 2000 Errawarra is in the advanced stages of finalising high-priority drill targets with a drilling contract expected to be awarded soon structural mapping and soil sampling is already taking place with assays from soil sampling expected in 5-6 weeks Silver was trading at US$5 an ounce when Elizabeth Hill closed 25 years ago Now the metal is closing on 13-year highs of US$35/oz as growing silver use in solar panels and safe haven demand pushes the commodity higher Experts say silver could break through all time highs of US$50/oz in the current precious metals bull market. Errawarra has raised $3 million ahead of the finalisation of the deal and the start of drilling at the project Drilling is expected to test potential down-plunge extensions of known mineralisation and provide further geological content to the Elizabeth Hill mineral system “I’m very pleased with the rapid progress we’re making across multiple fronts at Elizabeth Hill,” Errawarra Resources executive director Bruce Garlick said “The team is doing an excellent job finalising high-priority drill targets and advancing both the soil sampling and mapping programs “These are important steps in refining our understanding of the project and preparing for drilling.” Still riding a golden wave from last week’s “fantastic” results from the Myrtleford project in northeast Victoria is Advance Metals up another 16.7% to a daily high of 5.6c on volume of almost 45 million The results of up to 446g/t gold came from AVM’s maiden drilling program at the high-grade project at which the company recently entered a binding agreement with Serra Energy Metals Corp to acquire an 80% interest via joint venture together with the Beaufort gold project Diamond drilling at Happy Valley prospect returned 7.5m at 47.9g/t Au from 178.1m including 1.3m at 271.6g/t and 3.3m at 11.0g/t from 156.5m including 0.55m at 68.1g/t in hole AMD00 while hole AMD002 returned 2.9m at 6.7g/t Au from 208.8m Multiple zones of high-grade mineralisation in AMD003 extend the system to the northwest and present follow-up potential up and down dip These results from the second and third diamond drill holes follow the strong results from the first hole which returned 8.2 metres at 22.4g/t Au including 3.2 metres at 54.7g/t “Once again we are seeing fantastic results returned from the Happy Valley Prospect at Myrtleford,” managing director Adam McKinnon said “In combination with previous drilling and the recent result from AMD001 we have now defined a coherent ultra-high grade zone with potential extensions in multiple directions is now one of the best holes ever drilled at Myrtleford with three separate high grade zones and individual gold assays up 446g/t the initial logging results from hole AMD004 makes it four-from-four for the program in terms of visible gold hits.” Another positive move was made by Somerset Minerals after raising $2.4M in a placement with funds for a maiden drill campaign at the flagship Coppermine project in Canada There was strong demand for the two-tranche placement at 0.9c a share from new and existing investors Tranche 1 raised $590,000 utilising Listing Rule 7.1 and 7.1A placement capacities and Tranche 2 will raise $1.8M subject to shareholder approval The company’s maiden exploration campaign at Coppermine is scheduled to early July and will include a ~1,500m drill campaign and regional surface sampling campaign in areas where historical rock chip samples include 45.4% Cu and 60.0 g/t Ag along with 44.1% Cu and 263.0 g/t Ag with the final approvals expected in the next 1–2 weeks Acquisition of the project remains subject to several conditions including shareholder approval at a General Meeting on Wednesday “We are delighted by the strong support received from new and existing investors which reflects growing recognition of Somerset’s unique position in the market we believe this represents an attractive entry point,” managing director Chris Hansen said This article does not constitute financial product advice You should consider obtaining independent financial advice before making any financial decisions While RareX and Errawarra Resources are Stockhead advertisers Investor Guide: Critical Minerals 2025 featuring Barry FitzGerald Get the latest breaking news and stocks straight to your inbox company profiles and industry insights from Australia’s best business journalists – all collated and delivered straight to your inbox every day ILUKA draws inspiration from a road trip through Tucson “Girl On The Run.” The newest addition to her discography follows “Women Gone Mad,” a song that explores similar themes of resilience and reinvention The singer reflects on forging her own path regardless of the expectations of those around her The upbeat pop single is an anthem for those who seek personal liberation and inspires its listeners to say yes to life The single is accompanied by a music video directed by Jake Lundell “‘Girl On The Run’ is my love story to myself It’s about unapologetically forging your own path and following it ruthlessly even when it confuses or pisses off those around you Intimately being a girl on the run is about becoming the heroine of your own life story choosing to love yourself first and foremost and continuing to say yes to the ride of a life — no matter how crazy Keep up with ILUKA: Instagram // TikTok // YouTube // Website Independent and fueled by love and dedication Donate to fuel us figuratively and literally Mention "☕️" or "coffee" and $5 of your donation will go to a random staff member to keep them energized Clarence Valley’s leading community and independent newspaper – connecting news to our community The idyllic fishing village of Iluka has been rocked by the stabbing murder of one of its own after a 41-year-old man allegedly attacked a 58-year-old Iluka resident before leading police on a more than 50km long pursuit Social media ignited on the afternoon of Saturday with posts from locals and visitors curious about a massive police presence and the Westpac Rescue Helicopter landing in the town who was at the Iluka Rural Fire Service Christmas Party at the time emergency services and the rescue helicopter shook the silence of the town It has been reported a neighbour was hosting a children’s party when the tragic incident occurred it has been reported that the 41-year-old allegedly entered the home of his 58-year-old victim and stabbed him after which the popular Iluka resident ran to his neighbour’s home for help and police were called The neighbour who the victim ran to for assistance reportedly told Nine News he died in her arms who would give someone the shirt off his back” NSW Ambulance paramedics quickly arrived at the scene and treated the man Ballanda Crescent was cordoned off by police on Saturday night as officers checked on the welfare of neighbouring residents After police were called and were provided details of the 4WD the accused was travelling in he was spotted on the Pacific Motorway north of Iluka by officers who tried to stop him Police said when the driver allegedly ignored police directions The driver allegedly led police on a pursuit on the Motorway and local roads near Coraki and Lismore for more than 50 km then back to Woodburn where road spikes were successfully deployed by officers attached to Coffs Traffic and Highway Patrol Command where a 41-year-old man was arrested,” police said in a statement “He was taken to Lismore Hospital for assessment before being taken to Lismore Police Station and charged with murder predatory driving and police pursuit-not stop-drive dangerously.” He was refused bail and appeared in Paramatta Local Court on Sunday December 8 via audio visual link for a bail hearing from the Lismore cells after being held there overnight Police said in the pursuit that lasted almost 2 hours his manner of driving had the intent of causing injury to another driver at Coraki and he was also accused of driving recklessly and in a manner dangerous to others at South Gundurimba The accused will spend Christmas in jail after being refused bail with his next appearance listed before Grafton Local Court in early February Police say enquiries are ongoing as to the motive A brand new venue is about to open in the northern suburbs Bar Olé marks the second venue from locals Ryan and Nikki Esqulant which opened at Pinnaroo Point at the end of 2023 Their latest venture will be located on the upper floor of Iluka Plaza – so while it doesn’t quite boast the million-dollar views of sister venue Hillarys Beach Club you’ll still be able to get ocean glimpses from within the inviting Spanish-inspired fit out: think locally-sourced timber decorative tiles and an open kitchen that showcases the wood fired grill if you can keep your eyes off the fire engine red that grill gets put to good work with substantial plates including juicy sirloins and ribeye jerk-style chicken and fresh seafood – all cooked over fire under the watchful eye of Head Chef Nico Renzi whose CV includes stints at Bread in Common with a selection that covers all the classics: freshly shaved Iberico ham and jamón croquettes patatas bravas… All made with local WA produce where possible sangria makes an appearance on the drinks list local WA tipples and a few cheeky cocktails “We absolutely love being part of the local Iluka community and are so excited to bring our passion for Spanish food and culture to the northern coastline,” said Ryan Esqulant “The space has been thoughtfully designed by our team Bar Olé will be located at the Iluka Plaza RareX Limited and Iluka Resources Limited have formed a consortium to pursue the Mrima Hill rare earth-niobium-phosphate-manganese project in Kenya The consortium has submitted a proposal to Kenya’s National Mining Corporation (NAMICO) to establish a joint venture for the project’s de-risking and development Iluka will hold a 25% stake in a Special Purpose Vehicle (SPV) leveraging experience from its Cummins Range project RareX and Iluka have a binding offtake term sheet where Iluka will have the right of first refusal for all rare earth and mineral sands products Rare earths could potentially feed Iluka’s Eneabba refinery in Western Australia which is supported by a AU$1.65 billion Australian federal government loan The consortium’s proposal includes support from Curtin University for skills transfer to Kenyans RareX is in discussions with GEM for potential working capital funding Mrima Hill is strategically located near Mombasa and geothermal power grids RareX envisions processing rare earths at Eneabba while building local value chains for manganese Securing a social license to operate is a priority with plans to build local teams and engage experienced community development companies Kenya’s emergence as a mining destination supported by its renewable energy grid and status as a non-NATO U.S enhances the project’s attractiveness RareX emphasizes that the consortium’s application is preliminary and there are no guarantees of acceptance Investors are cautioned against undue reliance on the grant of the Prospecting Licence as it remains subject to NAMICO and the Cabinet Secretary’s discretion RareX will continue to inform the market of the application’s progress in compliance with listing rules Copyright Finance TV Pty Ltd All Rights Reserved Would you like to receive our daily news to your inbox The latest update is out from Iluka Resources Limited ( (AU:ILU) ) Iluka Resources Limited has announced the appointment of James Alexander Mactier as a director This appointment is significant as it reflects the company’s ongoing efforts to strengthen its leadership team potentially impacting its strategic direction and stakeholder relations Mactier holds 50,000 ordinary shares through a superannuation fund indicating his vested interest in the company’s future performance Iluka Resources Limited operates in the mining industry primarily focusing on the exploration and production of mineral sands The company is known for its production of zircon and titanium dioxide products which are essential components in various industrial applications Learn more about ILU stock on TipRanks’ Stock Analysis page The latest update is out from Iluka Resources Limited ( (AU:ILU) ) Something went wrong.The page you are looking for could not be found Influential proxy advisor Ownership Matters is advising clients to vote against the re-election of Iluka Resources director Susie Corlett because of her longstanding presence on the board of troubled lithium and iron ore producer Mineral Resources In a report distributed to clients and viewed by Capital Brief Ownership Matters said Corlett should not be re-elected "in the interests of seeking non-executive director accountability for tenured directors of [MinRes]." "Susie Corlett has been an independent non-executive director at ASX-listed Mineral Resources (ASX:MIN) since January 2021 "During this period there have been material corporate governance shortcomings at MIN particularly regarding related party transactions and board oversight." She understands that there is great power in music, which is why ILUKA does her best to create bold, captivating songs. After gaining a strong following through the release of singles like “12th of July” and “Sympathy,” the LA-based Australian singer-songwriter went on to receive massive acclaim for her debut album With her distinct “cowgirl twang” vocals and vulnerable storytelling and FLAUNT were impressed with the project and with ILUKA’s artistic vision She is definitely making the most of her voice and fans will feel its potency on her latest single “Woman Gone Mad” is an anthem about calling out the wrongs while striving to increase the rights its intensity increasing during the verses listeners will be able to tell that ILUKA is not playing around look around at everything that’s at stake,” owning her feelings She would rather speak up and be considered “mad” for it than stay quiet and act like all is well Telling us more about “Woman Gone Mad,” ILUKA shares “‘Woman Gone Mad’ is a song for the insane times we’re currently living through While oligarchy and fascism seem to be the new reality as weak men in lower power become more unhinged My neighborhood of Altadena in Los Angeles was burned to the ground and there’s also this element of grief in the song… Watching the billionaires continue to get richer as our planet and home is literally on fire.” You can listen to “Woman Gone Mad” here Keep up with ILUKA: Instagram // X // TikTok // YouTube // Website // Linktree Your access to this service has been limited If you think you have been blocked in error contact the owner of this site for assistance If you are a WordPress user with administrative privileges on this site please enter your email address in the box below and click "Send" You will then receive an email that helps you regain access Wordfence is a security plugin installed on over 5 million WordPress sites The owner of this site is using Wordfence to manage access to their site You can also read the documentation to learn about Wordfence's blocking tools or visit wordfence.com to learn more about Wordfence Click here to learn more: Documentation 5 May 2025 11:41:19 GMT.Your computer's time: document.write(new Date().toUTCString()); An increase in zircon-in-concentrate (ZIC) and synthetic rutile production were among the highlights of Iluka Resources’ September 2024 quarter The rare earths producer’s overall production included 43,000 tonnes (t) of zircon sands 27,000t of ZIC and 59,000t of synthetic rutile Total zircon/rutile/synthetic rutile sales equalled 97,000t, a 40,000t decrease from the June 2024 quarter Iluka said its ZIC sales sit at 49,000t year-to-date and are 9000t ahead of its 2024–25 financial year guidance The company also expects a further 10,000t will be sold in the next quarter “The Jacinth-Ambrosia mine in South Australia produced 52,000t of heavy mineral concentrate (HMC), down from 80,000t in (the June 2024 quarter), due to processing of lower grade ore,” Iluka said “Heavy mineral grade over year to date of three per cent is in line with the mine plan as outlined in the March quarterly review “Ore treated volumes in (the September 2024 quarter) were up nine per cent from (the June 2024 quarter) following the commissioning of the second new mining unit The Narngulu mineral separation plant primarily processed Jacinth-Ambrosia material producing a total of 69,000t of zircon (including ZIC) and 10,000t of rutile.” the Balranald rutile project in New South Wales remains on track for commissioning for the first half of 2025 Construction of the site access road at Balranald is set to be completed in the December 2024 quarter and site earthworks are progressing at the wet concentrator location and future accommodation village The accommodation units are also due to arrive in the December 2024 quarter “Off-site construction of the concentrator is approaching completion and preparations are underway for shipping to site,” Iluka said “Factory acceptance testing of the first of four mining rigs has been completed to Iluka’s satisfaction and it will now be transported to site.” Iluka also progressed environmental approvals process engineering and mine design activities for its Wimmera heavy mineral sands project in Victoria with 9059m drilled across its NSW and Queensland operations and field mapping and sampling programs completed in the Northern Territory The news: Mineral sands miner Iluka Resources has appointed former Macquarie executive James Mactier as its new chair The numbers: Mactier will take over as chair and non-executive director from 5 May and also head the board’s nominations and governance panel He will replace acting chair Andrea Sutton who took over after Robert Cole retired in December Iluka shares were up 3.5% to $3.56 in early trading on the ASX The context: Mactier spent 24 years at Macquarie including 15 years as co-head of its metals and energy capital division He is currently chair of gold miner Regis Resources “Iluka has an established mineral sands business that is highly cash generative and is building a unique rare earths business That combination is an enticing prospect for a new director especially in the context of developments in the global economy and delivering for shareholders,” he said in a statement to investors Iluka in February posted a 33% drop in full-year profit amid subdued demand for mineral commodities The source: ASX Can Aussie pair succeed after Canadian owner was stripped of globally significant deposit ASX-listed mineral sands miner Iluka Resources has returned to Africa teaming up with rare earths minnow RareX to bid for the globally significant but politically risky Mrima Hill rare earth-niobium-phosphate-manganese.. 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Aspermont Limited (ABN 66 000 375 048), PO Box 78, Leederville, Western Australia 6902 but the dream still lives for Iluka Resources and others Jennifer HewettColumnistFeb 19, 2025 – 5.21pmSaveLog in or to save articleShareCopy link Share via...Gift this articleSubscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe Iluka Resources chief executive Tom O’Leary persuaded the Morrison government to take a big bet on the future of rare earths processing in Australia The then prime minister sanctioned a $1.25 billion loan from Export Finance Australia for the construction of a rare earths refinery in Western Australia A new Labor government was even more enthused about the potential for another resources boom in critical minerals processing as Western countries and customers belatedly recognised the risks of relying on China’s domination of the industry SaveLog in or to save articleShareCopy link Gift 5 articles to anyone you choose each month when you subscribe. Follow the topics, people and companies that matter to you. The Motley Fool offers a range of services designed to help you achieve your financial goals. Click here to learn more about our membership options Access all of your premium services in our Member Centre. Founded in 1993 by brothers Tom and David Gardner The Motley Fool helps millions of people attain financial freedom through our website These shares are having a tough time on hump day You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain the benchmark index is up 0.5% to 8,441.5 points Four ASX shares that have failed to follow the market higher today are listed below The Iluka share price is down almost 9% to $4.86. This follows the release of weak fourth quarter update from the mineral sands company This weak performance led to the company reporting an 8.9% decline in mineral sands revenue to $1,128 million for the full year Things will be worse for its earnings before interest and tax (EBIT) which is expected to be in the range of $330 million to $340 million (excluding a contribution from Deterra) This will be down from $492.3 million in FY 2023 (including a $27.3 million contribution from Deterra) The Sigma Healthcare share price is down 4% to $2.67 Investors may be taking profit after some strong gains over the past 12 months Thanks to its proposed merger with Chemist Warehouse Sigma's shares have rallied 180% since this time last year Voting on the merger will take place next week on 29 January The Wildcat Resources share price is down 3% to 24.7 cents This follows the release of the lithium explorer's quarterly update management said: "During the quarter the Company delivered its inaugural Mineral Resource estimate "MRE" for the Tabba Tabba Lithium Project The MRE is a significant milestone and demonstrates the Company's ability to rapidly progress the Project from discovery through development." Wildcat ended the period with a cash balance of $63.6 million The Woodside share price is down almost 2% to $25.25. Investors have been selling the energy giant's shares following the release of its fourth quarter update Woodside reported a 3% decline in quarterly production to 51.4 million barrels of oil equivalent (MMboe) This reflects the unplanned shutdown at Woodside's Pluto project and led to quarterly revenue falling 6% to US$3.47 billion She said: "Our high-quality assets continued to deliver outstanding performance in the quarter underpinned by Sangomar producing 75 thousand barrels of oil equivalent per day at 95% reliability driving record annual production of 194 million barrels of oil equivalent." Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy This article contains general investment advice only (under AFSL 400691) ASX 200 energy shares like Woodside and Santos are tumbling on Monday These shares are starting the week in the red These shares are missing out on the good times on Friday Trump’s tariffs are roiling Corporate Travel shares on Friday These shares are under pressure on Thursday These shares are having a tough time on Tuesday View All Get the latest from The Motley Fool Australia on Google News. Go to Google News, then click "Follow" button to add us. 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For more information please see our Financial Services Guide Please remember that investments can go up and down Past performance is not necessarily indicative of future returns The Motley Fool Australia does not guarantee the performance of We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders of all Aboriginal and Torres Strait Islander nations © 2010 - 2023 The Motley Fool Australia Pty Ltd Australian Financial Services Licence (AFSL): 400691 Scott Phillips just released his 5 best stocks to buy right now and you could grab the names of these stocks instantly These shares are ending the week in the red The S&P/ASX 200 Index (ASX: XJO) has run out of steam on Friday and is on course to end the week in the red the benchmark index is down 0.5% to 8,433.7 points Four ASX shares that are falling more than most today are listed below The Collins Foods share price is down 1.5% to $7.94 This KFC restaurant operator's shares are falling today after going ex-dividend this morning Collins Foods released its half year results and revealed a 1.2% increase in revenue to $703.5 million and a 23.8% decline in underlying net profit after tax to $23.7 million The latter led to the company's board cutting its fully franked interim dividend by 12% to 11 cents per share This dividend will be paid to eligible shareholders next month on 6 January The Domino's share price is down 4% to $31.93 This appears to have been driven by a broker note out of Macquarie this morning the broker has downgraded the pizza chain operator's shares to an underperform rating from neutral and cut the price target on them to $29.50 Macquarie has concerns about store openings due to pressures on franchisee profits It fears this could lead to below consensus earnings in the medium term The Iluka share price is down almost 10% to $4.95. Investors have been selling this mineral sands producer's shares after it provided an update on its rare earths expansion Although the company has been able to command greater support from the Australian government it will also have to increase its cash contribution to the proposed Eneabba refinery in Western Australia by $214 million The market appears concerned that this could mean Iluka needs to raise funds in the near future to shore up its balance sheet The Zip Co share price is down 6% to $3.19 This could be profit taking from investors after some stellar gains this year it is worth noting that analysts at UBS don't believe the gains are over The broker recently put a buy rating and $3.65 price target on the buy now pay later provider's shares This suggests that they could climb 14% higher than where they trade today over the next 12 months View more search results Iluka Resources stands out as a top 2025 investment due to its strong zircon market share and rare earths expansion This video was created on 10 January for IG audiences by ausbiz Iluka Resources, a leading producer of zircon, has recently gained the spotlight from Goldman Sachs, which has added it to its list of high-conviction stocks for 2025 With a 'buy' recommendation and a price target of $7.70 Iluka's market share of 30% in the zircon industry positions it as a leader This presents a potential opportunity for traders looking for growth in the resources sector Rare earth elements are essential in modern technology Iluka Resources' expansion into this sector with a new refinery under construction highlights its strategic positioning The geopolitical landscape, especially trade tensions between China and the United States (US), can greatly affect the availability and pricing of critical minerals like rare earths. China's historical control over rare earth exports could lead to supply gaps, making companies like Iluka valuable assets in a trader's portfolio the rare earths sector offers a speculative yet potentially rewarding investment opportunity When considering investments in the resources sector, investors should consider both the risks and potential rewards. Mark Gardner from MPC Markets highlights that Iluka boasts a strong balance sheet and healthy earnings before interest, taxes, depreciation, and amortisation (EBITDA) margins investment decisions should not be based solely on expected supply gaps Notably, Iluka's price-to-earnings (P/E) ratio of 7.7 indicates a substantial discount compared to its historical averages suggesting it could be a compelling buy for those willing to embrace some risk traders should conduct thorough research and assess their risk tolerance before making a decision the material on this page does not contain a record of our trading prices IG accepts no responsibility for any use that may be made of these comments and for any consequences that result No representation or warranty is given as to the accuracy or completeness of this information Consequently any person acting on it does so entirely at their own risk Any research provided does not have regard to the specific investment objectives financial situation and needs of any specific person who may receive it It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients Discover the range of markets you can trade CFDs on - and learn how they work - with IG Academy's online course Take what you’ve learned in this shares strategy article Put the lessons in this article to use in a live account Put the knowledge you’ve gained from this article into practice Prices above are subject to our website terms and agreements All share prices are delayed by at least 20 minutes Find out what charges your trades could incur with our transparent fee structure and what makes us a world-leading provider of CFDs Stay on top of upcoming market-moving events with our customisable economic calendar Share Trading Other markets Web platform Trading apps MetaTrader 4 ProRealTime Compare features News and trade ideas Economic calendar Corporate accounts Premium services Charges and margins IG Community Marketing partnerships Contact 1800 601 799 or newaccounts.au@ig.com Want to check on your application’s progress Email newaccounts.au@ig.com Browse our Help and Support portal IG | Sitemap | Terms and agreements | Privacy | How to fund | Vulnerability | Cookies | About IG ETFs and ETCs bought through an IG share trading account can fall as well as rise which could mean getting back less than you originally put in Past performance is no guarantee of future results Please ensure you fully understand the risks and take care to manage your exposure The information on this website is prepared without considering your objectives you should consider the information in light of your objectives This website is operated by IG Australia Pty Ltd IG Australia Pty Ltd is located on Level 32 Derivatives Issuer Licence in New Zealand FSP No IG Group | Careers Iluka Resources delivered an increase in zircon sand production during the December 2024 quarter The rare earths producer’s overall production for the period was 129,000 tonnes (t) 15,000t zircon-in-concentrate (ZIC) and 58,000t of synthetic rutile Iluka sold 136,000t of zircon/rutile/synthetic during the quarter bringing the company’s 2024 total sales to 496,000t a result exceeding Iluka’s guidance of 455,000t Iluka credited the achievement to increased ZIC production and a strong synthetic rutile kiln performance “The Jacinth-Ambrosia mine in South Australia produced 64,000t of heavy mineral concentrate (HMC), up from 52,000t in the third quarter (Q3), largely due to higher ore treated volumes, ore grade and recovery,” Iluka said An additional 18,000t of HMC was produced from historic stockpiles “The Narngulu mineral separation plant (in WA) processed 204,000t of HMC in the quarter producing a total of 60,000t of zircon (including ZIC) and 12,000t of rutile.” In December 2024, the Federal Government agreed to contribute an additional $400 million to Iluka to aid the delivering of the Eneabba rare earths refinery in WA The project will be Australia’s first fully integrated refinery for separated rare earth oxides production “Site activity in Q4 encompassed detailed earthworks – including laydown process site and waste dam preparation – and various non-process infrastructure upgrades including high voltage powerlines and office building upgrades,” Iluka said fabrication and site works contract packages continues including the award of significant shop fabricated tanks evaporators and mixer settlers and release of the structural electrical and instrumentation construction tenders.” Iluka’s minerals sands business generated $252 million of operating cash flow in 2024 with a working capital build of approximately $225 million Iluka’s mineral sands business has a net cash balance of $90 million and the rare earths business $205 million Since 1908, Australian Mining has informed the industry on the latest news and technologies from across the mining sector. Comprising of a monthly print magazine, website and e-newsletter, Australian Mining is a leading resource showcasing the latest in mining innovation. All articles from our website & appThe digital version of Today's PaperBreaking news alerts direct to your inboxInteractive Crosswords Sudoku and TriviaAll articles from the other regional websites in your areaContinueBut it's not what you'd think It's no secret that the chef - who launched his barbecue-based passion project last year alongside being the executive chef for Akiba, Wilma and Loquita - has been working towards opening a home base for his pop-up and catering business he announced that not only will that home base be for Big Box Barbecue but for other up-and-coming food businesses Iluka St Market will launch at the Narrabundah shops in the coming months and will feature a regular rotation of Canberra food businesses "We wanted to build a space that other people who might not have an opportunity and I can help leverage what we're doing so they can push forward as well," Box said "There's a lot of people that are doing a lot of good and they need help but they don't necessarily know how to get there I want to help hobbyists become professionals." Michael Box from Big Box Barbecue is opening Iluka St Market Pictures by VUE StudiosAs well as helping hobbyists - people who have food-based side hustles as well as working in either other parts of hospitality or other industries - Iluka St Market will also be a place to host pop-ups from other cities and stock Canberra-made condiments "Invitations to others [to be there] are always going to be there and we can always see what we can do," Box said I know that not everyone's going to always be there every month in and out - they have catering and things like that can we open up on a Thursday when we've got nothing going on?' The world's your oyster We've got the ability and the agreement to be able to do that." announcing the news on the Big Box Barbecue Instagram Zac Jerrim from All About Burgers will feature at Iluka St Market. Picture by Elesa KurtzWhile no date is set for the opening, Box said the opening weekend would feature Big Box Barbecue, with the following schedule featuring the likes of food truck All About Burgers. "The plan is to be open within a month and a half and the first opening weekend will only be barbecue," Box said But we want to really just go out and have a barbecue and have it available Saturday and Sunday because then that will also be a barometer of where we need to go for our business too "But it's for me to give Canberra Texas barbecue "We'll also be announcing who the first businesses are with us and who's gonna be there It's just such an opportunity for everybody." As the lifestyle reporter, I love finding out what makes people tick and giving insight into the different ways that you can enjoy the city we live in. Email: amy.martin@canberratimes.com.au Today's top stories curated by our news team Don't miss updates on news about the Public Service Grab a quick bite of today's latest news from around the region and the nation Catch up on the news of the day and unwind with great reading for your evening Get the editor's insights: what's happening & why it matters Your exclusive preview of David Pope's latest cartoon Join our weekly poll for Canberra Times readers We've selected the best reading for your weekend Get the latest property and development news here tips & travel writing to transport you around the globe Your weekday morning newsletter on national affairs Your essential national news digest: all the big issues on Wednesday and great reading every Saturday Let the ACM network's editors and journalists bring you news and views from all over reviews and expert insights every Thursday from CarExpert Your digital replica of Today's Paper Test your skills with interactive crosswords The outlook for the great white hope of the Aussie Government’s muddled rare earths strategy is no clearer after its owner Iluka Resources (ASX:ILU) gave the project short shrift in a light quarterly report today a mineral sands stockpile near Geraldton where a ~$1.8bn refinery will take monazite waste and turn it into the magnet metals almost entirely extracted by China is effectively waiting on further funding commitments from Canberra to get across the line A $1.25 billion low cost loan was delivered from the critical minerals facility by the previous Coalition Government ahead of the 2022 Federal Election But costs have since blown out to $1.7-1.8bn and rare earth prices have tumbled In early 2022 neodymium-praseodymium oxide prices climbed above US$175/kg defence and consumer electronics are worth US$59.25/kg levels at which few producers are making money and largely unattractive for commercial lenders Iluka has effectively accused China of weaponising a virtual monopoly to subdue prices and lock out western competitors the pressure is on the Feds to meet the gap Today’s September quarterly wasn’t all that instructive highlighting that a broader project update is due in the second half “Q3 site works activity focussed on progressing critical path items at an appropriate level of capital outlay given ongoing nature of funding discussions,” Iluka said “Tendering and awarding of equipment fabrication and site works contract packages continues with prioritisation and approach based on criticality to schedule and overall cost commitment given the status of funding discussions This included the award of structural steel and pipe racks.” Looking at the bigger picture for Iluka and its stock fell around 4% after reporting continued weak economic conditions impacting the mineral sands market with zircon demand in China especially timid “The announcements in September targeting the property sector aim to boost liquidity encourage lending and stabilise prices,” the company noted “These measures are not expected to have an immediate impact Chinese demand for ceramics remains subdued impacting demand for raw materials such as opacifier refractory and foundry markets also showed some softening over the quarter US rate cuts and the end of the monsoon season in India offer some hope of a rebound in those markets seasonal weakness in the fourth quarter could see zircon prices fall US$40-50/t Prices were flat QoQ for Iluka at US$1891/t in Q3 which dominates demand for titanium dioxide feedstocks like natural and synthetic rutile “The global pigment market remains stable heading into the seasonally slower northern hemisphere winter with pigment producers running at higher operating rates in anticipation of a market turnaround in 2025,” ILU said “Titanium pigment producers view several external events as supporting renewed demand growth in 2025 including the final implementation of the EU antidumping tariffs on Chinese imports; economic stimulus measures being implemented in China to support additional domestic pigment consumption; and lower interest rates in the US helping to support new and existing home sales.” rutile and synthetic rutile output was down 31.4% YoY to 366,900t in the September quarter Ilmenite output and sales dropped 29.8% and 26.4% respectively to 298,800t and 90,400t zircon sales ran ahead of guidance and are expected to lift further in December while synthetic rutile sales are backended to the latter stages of the year Zircon prices dropped slightly QoQ from US$1907/t to US$1891/t Synthetic rutile prices came down from US$1194/t in September to US$1178/t in the June quarter with lower production and a pause at the SR1 kiln seeing its overall mineral sands cash cost up 50.4% YoY to US$1302/t Metals Acquisition (ASX:MAC) was on the bill as well announcing 10,159t of copper metal production from its CSA mine in New South Wales The Cobar operation is on track to hit the midpoint of its annual guidance for 2024 at 40,500t Cu though partly that was due to increased capitalisation of development costs which wants to lift output to over 50,000tpa from 2026 announced a string of high grade drill hits as well notably 19.8m at 10.9% Cu from 177.1m in hole UDD23021 at the QTS North deposit making it a lynchpin in the ~4% head grade CSA mine Stanmore Coal (ASX:SMR) meanwhile rose over 3% Its Queensland met coal mines produced 3.8Mt of saleable coal in the September quarter up from 3.4Mt in the three months to June 30 Coal sales so far this year are up from 9.3Mt in 2023 to 10.8Mt in 2024 Boss Marcelo Matos said the met coal market was awaiting direction in the form of Chinese stimulus announcements after weakness in China’s domestic market and high Chinese exports that limited demand elsewhere saw coking coal prices fall across the quarter Prices for premium coking coal dropped from US$245/t to US$180/t though the differential between PHCC and lower grade PCI SMR is one of three companies alongside Yancoal and Glencore rumoured to be a strong contender to acquire Anglo American’s Queensland coal assets NRW Holdings (ASX:NWH) was the same day revealed as the winner of a $1.6bn mining services agreement to start in 2026 at SMR’s South Walker Creek mine Zimplats Holdings (ASX:ZIM) (platinum) +3.7% Yancoal Australia (ASX:YAL) (coal) +3.0% Westgold Resources (ASX:WGX) (gold) +0.9% Gold Road Resources (ASX:GOR) (gold) +0.8% Mineral Resources (ASX:MIN) (lithium Iluka Resources (ASX:ILU) (Critical Minerals) -3.5% Champion Iron (ASX:CIA) (iron) -3.0% Lynas (ASX:LYC) (REE) -2.7% The news: Mineral sands miner Iluka Resources posted a 33% drop in full-year profit to $231 million amid subdued demand for mineral commodities The numbers: Net profit for the year to December fell to $231 million from $343 million while revenue was down 9% to $1.13 billion The company will pay a final dividend of 4 cents a share The context: Iluka said while markets remained stable in 2024 global macroeconomic conditions dictated lower activity levels in the construction and real estate sectors which drove customer buying behaviour in the zircon and titanium markets It was also affected by higher costs during the year The source: ASX Regis chair joins mineral sands miner; Sampson joins Queensland gold player; and more Looking for the industry's top publication for ASX-listed mining activities and market trends MiningNews.net gives you instant access to breaking news each focused on a key discussion point for the mining sector brought to you by the Mining News Intelligence team The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025 A detailed analysis of mining investment risks across 117 jurisdictions globally assessed across six risk categories and an industrywide survey The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies it assesses each company across 9 meticulously weighted indicators within 6 essential pillars She described the man as a “wonderful who would give someone the shirt off his back” where a 41-year-old man was arrested,” police said in a statement “He was taken to Lismore Hospital for assessment predatory driving and police pursuit- not stop-drive dangerously.” This article appeared in the Clarence Valley Independent, 11 December 2024. Sign up for updates from Australian Rural & Regional News Manage your subscription We don’t spam! Read our privacy policy for more info For all the news from the Clarence Valley Independent, go to https://clarencevalleynews.com.au/ The news: Mineral sands miner Iluka Resources and engineering group Worley both notched gains on the ASX as Goldman Sachs added the two stocks to its 'APAC Conviction List' a roster of stocks the firm believes will outperform The numbers: Iluka shares were up 1.4% to $5.26 by 1pm AEDT while Worley shares edged up 0.3% to $13.87 Both companies' shares have fallen by around 20% over the last 12 months Goldman Sachs has a price target of $7.70 on Iluka and a $18 price target on Worley The context: Goldman Sachs mining analyst Paul Young believes that zircon is one of the "best structural supply side stories in commodities" with Iluka's world-leading market share of 30% making it a major beneficiary Young expects the company's EBITDA to double by 2028, bolstered by the construction of a new rare earths refinery the western world's fifth such refinery outside of China Goldman Sachs believes Worley is well positioned to play a role in enabling the ongoing transition from fossil fuels to a more sustainable energy mix and to benefit from traditional spend in periods of heightened focus on energy security of regionalisation of supply chains The stock has lagged due to reduced customer investment momentum but is expected to meet guidance of low double-digit earnings growth in FY25 Iluka and Worley are the only Australian companies on the conviction list The other companies added to the list include Japan's Mizuho as well as Chinese e-commerce group JD.com SMFG, Sungrow, Suntory Beverage & Food, and Tencent — which was blacklisted by the US government on Tuesday for alleged links to the Chinese military — were removed from the list. CNN and the BBC World Service which is copyright and cannot be reproduced AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time) Iluka Resources has announced the retirement of its chairman Rob Cole while Glencore’s David Wormsley has notified the company he will retire from the board of directors who joined Iluka’s board in March 2018 and became chair in April 2022 has stepped down effective of December 13 due to health reasons after taking temporary leave last month Iluka acting chair Andrea Sutton praised Cole’s leadership during his tenure highlighting significant milestones under his guidance including the demergers of Deterra Royalties and Sierra Rutile as well as Iluka’s strategic shift into rare earths “At his AGM address in May, Rob reflected on Iluka’s resilience and commitment to delivering sustainable value,” Sutton said “His personal contribution to this commitment has been unwavering I thank Rob for his outstanding leadership and service to the company.” Iluka managing director Tom O’Leary also thanked Cole for his quality work and support “Rob’s contribution at board has always been of the highest calibre particularly since taking the Chair role in 2022,” O’Leary said “All of us at Iluka are wishing him the very best for his recovery.” Iluka said Sutton will continue as acting chair until the board appoints a permanent successor Glencore’s Wormsley will leave the company effective December 31 “David has been an effective and thoughtful contributor to the work of Glencore’s board of directors,” Glencore chairman Kalidas Madhavpeddi said I would like to thank him for his service to Glencore and wish him well for his future endeavours.” Wormsley reflected fondly on his tenure at Glencore and said the company will continue to perform strong in his absence “It has been a great pleasure to have been a member of the Glencore board,” he said “I have every confidence the company will continue to go from strength to strength under Gary Nagle’s leadership.” REE and ILU have formed a consortium to apply for the Mrima Hill rare earth niobium-phosphate-manganese project licence in Kenya Don't miss out on the headlines from Stockhead Followed categories will be added to My News Special report: RareX is teaming up with mineral sands heavyweight Iluka Resources and leveraging its expertise and Australian-Government-backed Eneabba rare earth refinery in plans for a multi-commodity rare earth-phosphate-manganese project at Mrima Hill in Kenya The companies have entered into a consortium agreement and have made a formal application to the National Mining Corporation of Kenya (NAMICO) to secure approval for the globally significant rare earth asset. ranked among the top five undeveloped rare earth deposits in the world next to a sealed highway and close to geothermal power grids. the project is also prospective for phosphate Mrima Hill – which is owned by the country’s Ministry of Mining Blue Economy and Maritime Affairs – may only proceed to development via a joint venture with NAMICO. Subject to a successful application, RareX (ASX:REE) and $1.62bn producer Iluka (ASX:ILU) will establish a special purpose vehicle (SPV) to pursue the acquisition and negotiate the terms of a formal shareholders agreement ILU will hold a 25% equity stake in the SPV including the terms for rare earth and heavy minerals offtake to provide feed for the under-development Eneabba rare earth refinery in WA. REE will take the lead in de-risking the project focusing on socio-environmental matters followed by metallurgical and value chain engineering studies. mandatory for mining licence approval before moving into the construction and operations phase will also involve the installation of a local laboratory and pilot plant capability in the short to medium term. If the consortium’s proposal is accepted the RareX-Iluka SPV will be formed and will become the counterparty to NAMICO in the JV REE managing director James Durrant said the agreement with Iluka illustrated that RareX had significant ambition and capability in the rare earths space which was why the company was established. “RareX was set up to develop large-scale rare earth projects that will participate in the global supply chain We started that with our Cummins Range project which is Australia’s largest undeveloped rare earth project,” he said “This project in Kenya is one of the world’s largest known deposits still in need of de-risking and that speaks to how RareX fits with Iluka. Durrant said the project was well-known and well documented publicly as being a very large project of significance in the rare earths and niobium space. “It has very high grade and very large volumes of both rare earths and niobium is a coastal facility with grid connection which is 85% renewables in Kenya driven by geothermal production,” he said. “Not only is it a good project by its grade but its location is fantastic and if you tie that in with Eneabba which is a coastal facility on the Indian Ocean as well you start to see a very elegant technical solution – Iluka through the Eneabba facility can handle the great complexity of the rare earths whilst we help build out and integrate tangible domestic value chains in Kenya for manganese The Eneabba refinery is under construction and expected to begin production in 2026/2027 producing rare earths from Iluka’s own operations as well as from third-party sources both non-NATO strategic allies of the US and both members of the Indian Ocean Rim Association,” Durrant said. REE and ILU also signed a binding offtake term sheet which sets out the terms for a long-form offtake agreement. The sale and purchase of material under the term sheet is subject to conditions including the grant of a mining licence Iluka board approval for the definitive agreement and regulatory and financing approvals If the procurement process is successfully completed and the prospecting licence is issued to the JV RareX will focus on community engagement and environmental assessments as it is critical that before any activity is initiated there is a social licence to operate. REE intends to build local teams with support from experienced companies specialising in community development relevant teams previously established to support the Kwale mineral sands operation Mrima Hill could be a very meaningful project for Kenya and could represent the initiation of a critical minerals hub in Mombasa. “The project could be used to attract and process critical minerals particularly rare earths and potentially niobium from neighbouring countries and nearby projects,” he said. “Base Resources titanium project was bought by Energy Fuels last year and has now shut down so we’re really looking to be able to pick up and carry the baton of good quality Australian mine development in the country.” REE is also in discussions with New York based GEM - Global Emerging Markets - regarding a potential facility to fund the working capital requirements of the company associated with the project. This article was developed in collaboration with RareX a Stockhead advertiser at the time of publishing You should consider obtaining independent advice before making any financial decisions Originally published as RareX in consortium with heavyweight Iluka for Kenyan REE project $17m capital raising is aimed at advancing exploration and development of its antimony and gold projects in Alaska Redcastle’s Kestrel Lode is the most delineated mineralised zone within the Queen Alexandra project and presents an early cashflow opportunity Australia will grant an additional A$400 million ($257.20 million) loan to Iluka Resources to develop its rare earths refinery in Western Australia which will also see the critical minerals miner shell out more money than committed Iluka on Friday said the federal government is granting the additional loan on top of the A$1.25 billion loan offered in 2022 The miner will have to cough up an extra A$214 million in cash equity on top of the A$200 million cash equity and stockpile already earmarked for the project set to be Australia’s first fully integrated rare earths refinery is estimated to cost between A$1.7 billion ($1.09 billion) and A$1.8 billion a sharp jump from the previous estimate of A$1.2 billion Analysts at Sandstone Insights raised concerns over Iluka’s high upfront funding and its net debt which they forecast will peak at just over A$1 billion in fiscal year 2027 “The revised deal with the Australian government for the Eneabba rare earth refinery is less favourable than ILU would have desired,” Sandstone Insights analysts said shares of the miner plunged as much as 15% to A$4.660 – their lowest level since early October 2020 – making them the top loser in the ASX200 benchmark index The refinery is part of a push by the government to develop new sources of critical minerals to diversify the supply chain away from top producer China The new funding is subject to the company securing offtake deals for the refinery and can only be used after the original A$1.45 billion funding is fully drawn (By Sameer Manekar and Aaditya Govind Rao; Editing by Alan Barona and Rashmi Aich) and website in this browser for the next time I comment Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" The latest 10 include the proposed copper-nickel mine in Minnesota under a joint venture between Glencore and Teck. Exploration and mining of the energy metal has for 12 years been banned or largely restricted for environmental reasons in British Columbia, Quebec and Nova Scotia. Gina Rinehart's mining company, Hancock Prospecting, is among the biggest donors to opposition leader Peter Dutton's Liberal Party. This discovery adds to a series of significant archaeological finds in the Czech Republic. Jack Lundin, president and CEO, hailed Filo del Sol as "one of the most significant greenfield discoveries in the last 30 years." Iluka Resources Limited announced the results of its 2025 Annual General Meeting Key resolutions included the election and re-election of directors and the approval of short and long-term incentive plans for the Managing Director indicating strong shareholder support for the company’s leadership and strategic direction Iluka Resources Limited is a company in the mining industry primarily focused on the production of mineral sands which are used in various applications such as ceramics The company is listed on the Australian Securities Exchange and is headquartered in Perth Find detailed analytics on ILU stock on TipRanks’ Stock Analysis page The ASX edged lower by 0.5% at the halfway mark on Friday mirroring a pullback in US markets overnight as investors cashed in after yesterday’s rally Tech and Energy bore the brunt of the losses this morning driven by weaker iron ore prices in Singapore trading at US$98,020 at the time of writing “This spike in volatility over the last 24 hours [in BTC] has the hallmarks of a classic blow-off top,” said Tony Sycamore at broker IG “While we don’t see this as the end of the Bitcoin bull run it does signal we are entering a consolidation phase in the days or weeks ahead.” there appears to be some rotation from Bitcoin (BTC) into “altcoins” with several AI-themed cryptocurrencies in particular seeing strong double-digit gains at the time of writing.] A notable announcement this morning came from natural gas transmitter APA Group (ASX:APA) which gained 2.5% gain after the energy regulator confirmed it wouldn’t apply full price regulation to its South West Queensland gas pipeline And, Iluka Resources (ASX:ILU) slumped 9.5% after announcing that it has secured an additional $400 million loan from the Australian government for its Eneabba rare earths refinery to cover cost overruns at its domestic rare earths refinery Iluka will also contribute an additional $214 million cash equity Here are the best performing ASX small cap stocks for December 6 [intraday]: Australian Rare Earths (ASX:AR3) has secured a $5 million grant from the Australian federal government for its Koppamurra project The funding will support metallurgical testwork and the construction of a demonstration plant with AR3 matching the grant for a total $10 million investment over 2025 and 2026 backed by strategic partner Neo Performance Materials aims to strengthen rare earth supply chains for the clean energy transition GBM Resources (ASX:GBZ) said it has sold approximately 466 ounces of gold in the December quarter The increase in production and sales is attributed to new heap leach material mineralised material recovered from the gold room and elution circuits The company said further higher production is expected next quarter as maintenance continues with additional gold set for assay and sale Bhagwan Marine (ASX:BWN) expects strong earnings growth for the first half of FY25 with pro-forma EBITDA projected to be between $26 million and $28 million a 26% to 36% increase compared to the previous period This follows the successful completion of a large-scale oil and gas decommissioning project in Q1 marking the company’s largest project of its kind delivered over 800,000 working hours without any lost-time injuries And, Cleanspace (ASX:CSX) has appointed Gabrielle O’Carroll as CEO including managing 3M’s Personal Safety division in Australia and New Zealand The appointment comes as CleanSpace prepares for its next phase of growth Here are the worst performing ASX small cap stocks for December 6 [intraday]: Worth a mention here, Micro-X (ASX:MX1) fell 1% despite announcing that it has achieved a milestone with the successful production of full 3D CT images using its proprietary miniature X-ray technology were produced with one-third of the radiation dose of conventional CT scans This has triggered a $0.5m payment under the Medical Research Future Fund program The company is now preparing hospital test benches for ethics approval and plans to begin human clinical trials in early 2025 EBR Systems (ASX: EBR) has scheduled its Day-100 Meeting with the US Food and Drug Administration (FDA) for December 20 The meeting is an important step in reviewing the company’s pre-market approval application giving the FDA a chance to assess its progress and request any additional information or documentation Sunshine Metals (ASX:SHN) will receive $950,000 in cash and around 83 million fully-paid ordinary shares in Dart Mining (ASX:DTM) as part of the sale of its Triumph gold project The deal enables Sunshine to concentrate on the growth of its Ravenswood Consolidated project while maintaining a significant interest in Triumph as a 13.93% shareholder in Dart Raiden Resources (ASX:RDN) is making strong progress at its Andover South project in WA expanding the current drill program from 5,000 metres to up to 15,000 metres Some core samples have been sent to a Perth lab with assay results expected early in the new year Sunshine Metals 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