Iluka Q3 revenue plunges

Mineral sands miner Iluka has reported a 21% quarter-on-quarter drop in revenue to A$185.9-million for the three months to September 30, despite having lifted zircon, rutile and synthetic rutile output by nearly 5% to 198 000 t, compared with the 189 300 t produced in the June quarter. Iluka said the lower third-quarter revenue was owing to a number of factors, including the deferral of some 15 000 t of zircon volume contracted and scheduled to be shipped from the third quarter to the fourth quarter, in order to optimise logistics costs by combining cargoes, and a higher proportion of standard rather than premium zircon production in the sales mix.