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Iluka gives Cataby project the green light

Iluka Resources has given the nod for its $275 million Cataby mineral sands project north of Perth after squaring away offtake deals covering 85 per cent of production from the mine.

The news will create 250 jobs in construction, 160 jobs in operation and secure the immediate future of 160 existing employees at the company’s synthetic rutile kiln 2 at Capel near Bunbury.

Iluka expects construction of Cataby to take 18 months with first production targeted for June 2019.

The project will produce 200,000tpa of synthetic rutile, 50,000tpa of zircon and 30,000tpa of rutile over an initial 8.5-year minelife with the likelihood of a four-year extension subject to accessing an additional 20mt of ore.

Iluka hit the green light on the long-delayed chloride ilmenite project 150km north of Perth after locking in customers covering 85 per cent of synthetic rutile production over a minimum four years.

Managing director Tom O’Leary said the agreements would underpin returns from the project and was consistent with the company’s disciplined approach to the allocation of capital and its objective of creating and delivering shareholder value. Read more…

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