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 MENAFN - - 10/11/2012 8:06:49 PM

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Iluka hit hard by the shift in sands prices

Oct 11, 2012 (Menafn - The Australian - ABIX via COMTEX) --Iluka Resources has posted revenue of A224.5m for the September 2012 quarter, compared with A532.5m for the same period in 2011. The downturn was prompted by Rio Tinto's decision to price zircon at US2,000 per tonne in an action in late August. In contrast, Iluka had been seeking to sell its zircon for US2,500 a tonne at auction. The company says it opted to match Rio's price in order to protect its customer base.

Publication Date: 12 October 2012

ILUKA RESOURCES LIMITED - ASX ILU
RIO TINTO LIMITED - ASX RIO

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