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Deterra demerger done

2nd November 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The demerger of Deterra Royalties from ASX-listed Iluka Resources has been implemented.

The shareholders of mineral sands miner Iluka in October voted in favour of the demerger of the company’s royalty business, which will result in two independently listed ASX companies.

Iluka on Monday said that there were now more than 528.4-million Deterra shares on issue, with Iluka shares amounting to 422.7-million. The more than 105.6-million difference in the number of shares on issue are the number of shares held by Iluka, reflecting its 20% interest in Deterra.

Deterra shares will start trading on the ASX on November 3.

With the demerger completed, Deterra is now the largest independent royalty company listed on the ASX, with royalties held over BHP-operated Mining Areas C, in the Pilbara, as its cornerstone asset.


 

Edited by Creamer Media Reporter

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