Australia's Iluka Resources plunges as China deal leads to guidance withdrawal

Iluka Resources

17/10/2025 01:00

** Shares of Australia's Iluka Resources ILU.AX slump as much as 15.5% to A$7.01; marks biggest intraday fall since March 2020

** Stock hits lowest since October 3

** The rare earths miner withdraws guidance for synthetic rutile sales due to an asset purchase deal between China's LB Group and co's customer Venator

** Under the deal, Venator is selling the UK plant to LB Group, raising uncertainty over 2025–2027 synthetic rutile supply contracts

** Stock up 40.6% YTD

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))