Iluka defers expenditure in downcast mineral sands market

By James Sean Dickson
Published: Wednesday, 16 December 2015

The soft market outlook for mineral sands has led Iluka to delay some capital expenditures into 2016. Among other comments, the company said that highly leveraged producers are engaging in distressed selling practices.

ASX-listed Iluka Resources Ltd issued a subdued guidance for 2016 in its full year physical and financial update, released today.

The company cut its expected capex investments by over 35% to Australian dollar (A$) 75m ($54m*), down from A$120m previously. The lower investment figure will be facilitated in part by deferring some...

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