Original article by Brad Thompson
The Australian Financial Review – Page: 14 & 20 : 8-Feb-21
Australian mineral sands producer Iluka Resources is seeking to expand into the rare earths sector. The company is hinting that it wants to become an integrated producer of heavy and light rare earth oxides, with the next step in its rare earths goals involving spending $35 million to boost the product from its mineral sands mine at Enebba in Western Australia to a 90 per cent concentrate. It could consider sending this concentrate to Lynas Rare Earths’ cracking and leaching plant in Kalgoorlie. Goldman Sachs has suggested that Iluka is capable of developing the first fully integrated rare earths operation on Australian soil by 2025 at a cost of around $1.2 billion.
ILUKA RESOURCES LIMITED – ASX ILU, LYNAS RARE EARTHS LIMITED – ASX LYC, GOLDMAN SACHS AUSTRALIA PTY LTD