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Iluka Resources Limited ( (AU:ILU) ) just unveiled an update.
Iluka Resources reported full-year 2025 zircon, rutile and synthetic rutile production of 559,000 tonnes, above guidance, driven by strong zircon-in-concentrate output from optimised processing across its separation facilities. While mineral sands revenue fell 13.5% to $976 million amid softer zircon pricing and lower ilmenite and synthetic rutile sales, unit cash production costs declined 18.8% to $1,054/t, and mining commenced at the Balranald project, which is ramping up through the first half of 2026. The company continued its significant capital program, spending $862 million in 2025, largely on the Balranald development and the Eneabba rare earths refinery, which has reached $865 million in cumulative spend and advanced key construction works. Iluka ended the year with group net debt of $1.06 billion split between its mineral sands and rare earths businesses, and has successfully tested the zircon flowsheet for its Wimmera project, confirming a substantial portion of extracted zircon is suitable for ceramics and identifying markets for most of the expected output. For 2026, Iluka plans lower Z/R/SR production of 265,000 tonnes with SR2 and Cataby to remain idle unless markets improve, lower total cash costs of production, higher idle costs, and reduced mineral sands capital expenditure alongside continued heavy investment in rare earths, underpinning its transition towards a dual mineral sands–rare earths portfolio.
The most recent analyst rating on (AU:ILU) stock is a Hold with a A$7.50 price target. To see the full list of analyst forecasts on Iluka Resources Limited stock, see the AU:ILU Stock Forecast page.
More about Iluka Resources Limited
Iluka Resources is an Australia-based mineral sands producer focused on zircon, rutile, synthetic rutile and ilmenite, with mining and processing operations including Eneabba, North Capel, Narngulu and the new Balranald project. The company is also investing heavily in a fully integrated rare earths refinery at Eneabba under a strategic financing partnership with the Australian government, positioning it as a future supplier of separated rare earth oxides.
Average Trading Volume: 3,582,051
Technical Sentiment Signal: Buy
Current Market Cap: A$2.99B
For a thorough assessment of ILU stock, go to TipRanks’ Stock Analysis page.