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US charge against Iluka

SHARES in mineral sands heavyweight Iluka Resources fell back by as much as 4% this morning as investors digested news it plans to turn its back on its loss-making Florida and Georgia operations in a move that will cost the company $US60 million this financial year.

Michael Vaughan
US charge against Iluka

The company advised the US operations were expected to make an EBIT loss of about $A25 million in the 2005 financial year and an EBIT loss of about $US11 million during the stage closure of the facilities,...

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