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Iluka Resources Limited ( (AU:ILU) ) has provided an update.
Iluka Resources has reported a significant upgrade to the Mineral Resource estimate for its WIM100 heavy mineral deposit in western Victoria, the initial focus of its Wimmera project. The updated estimate now stands at 540 million tonnes grading 4.6% heavy minerals for 25 million tonnes of contained heavy minerals, representing a 19% increase in total heavy mineral tonnage, along with notable rises in Measured and Indicated categories that improve confidence in the resource. WIM100 hosts fine-grained heavy minerals, including zircon and rare earth-bearing minerals such as monazite and xenotime, and is expected to be an important future feedstock source for Iluka’s Eneabba rare earth refinery, currently under construction and scheduled to become one of the few rare earths refineries operating outside China. The enlarged and higher-confidence resource underpins the definitive feasibility study for the Wimmera project and reinforces Iluka’s strategic position in securing long-term, diversified supplies of critical minerals for global markets.
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 Limited is an Australian mining company focused on the exploration, development and production of heavy mineral sands, supplying key products such as zircon and feedstocks for titanium dioxide and rare earths. The company is advancing an integrated strategy that links mineral sands deposits, including those in western Victoria, with downstream processing infrastructure such as its Eneabba rare earths refinery in Western Australia to support long-term supply chains outside China.
Average Trading Volume: 3,582,051
Technical Sentiment Signal: Buy
Current Market Cap: A$2.99B
See more insights into ILU stock on TipRanks’ Stock Analysis page.