Iluka Resources (ILU), Australia's largest mineral sands miner & the world's biggest zircon producer, reported a worse than expected $34.3m 1H13 (Jan-Jun)...

CommSec

Iluka Resources (ILU), Australia's largest mineral sands miner & the world's biggest zircon producer, reported a worse than expected $34.3m 1H13 (Jan-Jun) profit. The result was around 20% lower than consensus & an 87.5% slump on 1H12. Prices have dropped significantly for its two major products - zircon (used to glaze/coat tiles) & rutile (mineral used in paints & plastics to provide bright white colours). China, the world's biggest consumer of zircon, has recently lost its appetite for the mineral, due to cheaper alternatives. ILU shares are up 18% since Jan 2013. For more visit: (VIEW LINK)


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