The Australian company posted quarterly figures.
The resource company Iluka released its figures for the quarter ending December on Wednesday (PDF). The company, known for its specialization in titanium and zirconium, reported a decline in revenue for both the quarter and the full year. However, there is promising news from its emerging third focus area: the mining and processing of rare earths.
In Western Australia, Iluka plans to build the nation’s first fully integrated rare earth refinery, with an estimated cost of just over one billion US dollars.
The project is partially financed through a loan from the Australian government. Once operational, the refinery will process raw materials sourced from both Iluka’s own mining operations and third parties into rare earth oxides. These oxides are essential for manufacturing magnetic alloys, which play a critical role in producing components for wind turbines, electric vehicles, and other advanced technologies. The refinery, located in Eneabba, is scheduled to begin operations in 2027.
Photo: dapaimages via Canva
