Iluka Resources (ILU) is a major participant in the global mineral sands sector and is involved in the production, sales and marketing of titanium mineral products (rutile, ilmenite, leucoxene and synthetic rutile) and zircon.
ILU is the largest producer of zircon in the world, with an approximate market share of 34% and the second largest producer of titanium dioxide minerals with an approximate market share of 18%.
Outside the core mineral sands business, ILU has a royalty interest in specific parts of BHP Billiton’s Mining Area C (MAC) iron ore region in the north west of Western Australia.
ILU expects average prices for its titanium dioxide products to rise 75% in the second half of the year and zircon prices by up to 40% for the coming quarter.
The agreements reached with its customers will take effect from 1 July.