Perth-based Iluka Resources plans to put its Hamilton mineral separation plant in Victoria on care and maintenance status resulting in an $150 million pre-tax impairment charge in its half-year accounts.
The mineral sands miner will also record redundancy and restructure costs of $14 million in the half-year results, with the plant expected to suspend operations in October 2017.
The company also flagged its intention to restart mining at the Jacinth-Ambrosia operation in South Australia by December, as it sees improving conditions in the zircon market.
“Iluka continues to be encouraged by the improvement in mineral sands markets. The restart of J-A reflects the continued tightening of the zircon market and follows the substantial drawdown …
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