Australia's Iluka Resources posts Q3 output drop, revenue misses estimate

Iluka Resources

22/10/2024 01:54

** Shares of Iluka Resources  ILU.AX  fall as much as 5.4%
to A$5.865, their worst day since July 24 — if current losses
hold 
    ** Stock hits lowest level since Sept 19
    ** ILU among top losers in the benchmark 
    ** Critical minerals producer says production of
zircon/rutile/synthetic rutile in Q3 2024 was 138.3 kilo tonnes
(kt), down from 167.1kt in pcp
    ** Posts mineral sands revenue of A$232 mln ($154.37 mln),
below Citi's forecast of A$306 mln
    ** Co notes a subdued ceramics demand in China while
European zircon demand remained stable 


($1 = 1.5029 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com))