Iluka battling tough zircon market and Sierra Rutile issues

FOLLOWING an investor briefing and site visit last week to Iluka Resources’ Cataby project in Western Australia, analysts at Macquarie have cut their forecasts for the minerals sands major to below guidance.

Iluka battling tough zircon market and Sierra Rutile issues Iluka battling tough zircon market and Sierra Rutile issues Iluka battling tough zircon market and Sierra Rutile issues Iluka battling tough zircon market and Sierra Rutile issues Iluka battling tough zircon market and Sierra Rutile issues

Iluka expects to increase zircon sales by about 50% in the current quarter and hence meet guidance, but the Macquarie analysts are concerned by the "near-term weakness in demand" with the key markets