| Iluka Resources Limited | |
| Type: | Public company |
| Foundation: | 1998 |
| Location: | 140 St Georges Terrace, Perth, Western Australia |
| Key People: | Rob Cole (Chairman) Tom O'Leary (CEO) |
| Industry: | Mining |
| Products: | Ilmenite, Zircon, Rutile, Synthetic Rutile |
| Revenue: | $1.2 billion |
| Revenue Year: | 2023 |
| Operating Income: | $582 million |
| Income Year: | 2023 |
| Num Employees: | 1,075 |
| Num Employees Year: | 2023 |
| Website: | www.iluka.com |
Iluka Resources is an Australian resources company, specialising in mineral sands exploration, project development, operations and marketing. Iluka is the largest producer of zircon and titanium dioxidederived rutile and synthetic rutile globally.[1] Iluka mines heavy mineral sands and separates the concentrate into its individual mineral constituents rutile, ilmenite, and zircon. Some of the ilmenite is then processed into synthetic rutile.
Iluka has operations in the Australian states of Western Australia (Eucla and Perth Basins), South Australia (Jacinth-Ambrosia Mine), Victoria and New South Wales (Murray Basin), the United States (Virginia) and Sierra Leone.
Iluka Resources was formed in July 1998 in a merger between Westralian Sands and the titanium mineral business of RGC.[2] [3] Westralian Sands was established in 1954 but commenced operations in 1959 when it started mining and processing the Yoganup deposit near Capel in Western Australia.
By 1999, the company had sold off or closed many parts of its business including Westlime Limited, Koba Tin, RGC Thalanga Copper, RGC South Capel operation and its share of the Narama Coal mine in New South Wales.[4]
In September 2008 the company sign a contract with rail freight operator El Zorro to carry containerised mineral sands from Portland in the south-west of Victoria to Melbourne, with Iluka saying rail transport was cheaper than road.[5]
In 2006, it closed its operations in Florida and Georgia retaining a presence in the United States in Michigan.[6]
In March 2009, Iluka announced that it would bring forward the closure of one of the Synthetic Rutile kilns at the Narngulu operations and that 23 jobs would be lost. The move came in response to falling demand as a result of the Global Economic Crisis.[7]
Iluka established an initial 18.3 per cent interest in the UK technology company, Metalysis, which is seeking to commercialise technology to convert metals into powder, including titanium powder. Iluka increased its interest to approximately 28 percent in 2016 with additional investment.[8] Iluka also commenced work in 2014 with Vale in relation to the potential commercialisation of a large titanium ore body, with rare earth elements, in Minas Gerais, Brazil. Iluka conducts international exploration, including for selected non-mineral sands opportunities, mainly on its Australian tenements.[8]
In August 2016, Iluka announced its intention to acquire Sierra Leonebased and London Stock Exchangelisted miner Sierra Rutile Limited.[9] The sale was finalised in December 2016 for $393 million.[10] [11] As part of the acquisition, Iluka intended to invest $290 million to expand production, improve operation and safety facilities and streamline operations. The Sierra Rutile mine has an extensive, long-life rutile deposit which complements existing assets in titanium oxide.[12] In April 2022, the Sierra Leone business was spun off.[13]