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Iluka Resources Secures Rare Earth Supply with Lindian Agreement

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Iluka Resources Secures Rare Earth Supply with Lindian Agreement

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The latest announcement is out from Iluka Resources Limited ( (AU:ILU) ).

Iluka Resources Limited has entered into a long-term agreement with Lindian Resources for the supply of rare earth concentrate from the Kangankunde mine in Malawi. This agreement will provide 6ktpa of concentrate for 15 years, representing about 10% of the capacity of Iluka’s Eneabba refinery, which is under construction and scheduled for commissioning in 2027. The partnership includes a US$20 million loan facility to support Lindian’s mine development. This strategic move is part of Iluka’s efforts to secure diverse feedstock sources and strengthen its position in the global rare earths market, contributing to a more sustainable industry.

The most recent analyst rating on (AU:ILU) stock is a Buy with a A$4.65 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 a company operating in the mining industry, primarily focused on the production of mineral sands, including zircon and titanium dioxide products. The company is also expanding into the rare earths market with its Eneabba refinery, which is set to become Australia’s first fully integrated rare earths refinery.

Average Trading Volume: 4,907,245

Technical Sentiment Signal: Sell

Current Market Cap: A$2.24B

For detailed information about ILU stock, go to TipRanks’ Stock Analysis page.

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