Iluka defers expenditure in downcast mineral sands market
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...