Iluka revenue drops 10% on weaker sales volumes, prices
PERTH (miningweekly.com) – Lower sales volumes and prices resulted in mineral sands miner Iluka reporting a 10.1% revenue decline during the three months to June, compared with the previous corresponding period.
The miner reported on Wednesday that it had sold some 277 000 t of zircon, rutile and synthetic rutile during the quarter under review, down 3.5% on the previous corresponding period, which resulted in revenues of A$343.2-million.
Unit revenue of mineral sands declined to A$1 015/t, compared with A$1 178/t in the previous corresponding period.
Despite the lower sales volumes, Iluka reported a 5.9% increase in mineral sands production during the quarter, with the miner producing 252 000 t of zircon, rutile and synthetic rutile.
Zircon production for the quarter increased to 96 200 t while rutile production was up to 60 600 t, compared with the 62 400 t and 34 800 t produced respectively in the three months to June 2013.
No synthetic rutile was produced during the June quarter, or the half-year ended June, as the kilns remained idled.
Iluka’s production settings were currently focused on lower mineral separation plant use to enable the progressive drawdown of finished goods inventory, and to reduce transport and operating costs.
At the Jacinth-Ambrosia project, in South Australia, and the Woomack, Rownack and Pirro operations, in Victoria, mining operations continued at essentially full utilisation rates. The utilisation rates allowed for optimum unit cash cost outcomes for the production of heavy mineral concentrate.
Mining operations in Western Australia remained idled during the quarter, with all synthetic rutile kilns in the state also remaining so.
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