Latest news with #Eneabba
West Australian
23-07-2025
- Business
- West Australian
Market ignores tariff noise as Iluka Resources emboldened by Uncle Sam's move to fix rare earths prices
Iluka Resources has yanked guidance for one of its mineral sands exports for the next quarter blaming tariffs, but is optimistic the Pentagon's recent swoop on a major rare earths miner bodes well for its own local ambitions. The listed miner recovered from a weaker quarter by delivering 150,000 tonnes of zircon and rutile from its Cataby operations in WA and the Jacinth-Ambrosia project in South Australia, it reported on Wednesday. But citing 'ongoing uncertainty and the broad range of potential outcomes on market dynamics', Iluka told investors it would not be providing guidance in terms of expected production, or pricing, for its zircon products. The commodity is among many caught up in sweeping tariffs imposed by the US and is set to be levied at 10 per cent from August 1, though Iluka noted that about 50 per cent of Uncle Sam's zircon imports come from South Africa. 'Titanium dioxide feedstocks and rare earth oxides remain exempt from tariffs,' Iluka said. Amid geopolitical tussles to secure rare earths supplies the United States Government bought more than $600 million worth of shares in California miner MP Materials, and inked an offtake to buy its product at a set minimum price. Iluka has long been pushing for rare earths prices 'independent pricing mechanisms that are not linked to the Asian Metals Index', in a bid to break China's stranglehold on the in-demand ingredient used in magnets for high-tech applications. And it told investors the agreed price of $US100 per kilo of rare earths products set between MP and the US Department of Defense was encouraging for its own rare earths refinery build at Eneabba. 'Iluka has previously provided a range of possible scenarios for utilisation of the Eneabba refinery at long-term forecast NdPr prices of $108/kg.' The group said locking in a price floor was 'an acknowledgement by the US government that higher prices for separated rare earth oxides are essential to building a sustainable Western and like-minded supply chain.' As part of its $1.65 billion funding deal with the Australian Government, the Eneabba rare earths refinery being built near Jurien Bay has strict restrictions imposed on future output being sold to China. So far $570 million has been spent on construction, with earthworks completed and concrete contractors making 'good progress'. Equipment has also started to arrive on site. Iluka shares closed the day up 4 per cent to $5.39.
The Age
28-05-2025
- Business
- The Age
Critica kicks off bulk test work at giant WA rare earths play
Critica reckons there is every chance its metallurgists will crack the last piece of the code to deliver a low-cost processing solution. Adding to its rare earths inventory, the company is also now looking at a potential second income stream from Jupiter. Initial beneficiation work using wet low-intensity magnetic separation recovered 64 per cent iron concentrate, hinting at a valuable by-product opportunity that could improve the project's economics. Jupiter's lease is well placed, just 50km southwest of Mt Magnet and 300km from the Port of Geraldton. The grounds are crisscrossed by a main highway linking the two hubs and run alongside the Mid West gas pipeline, which all gives the project a logistical leg-up. Adding to the appeal, Critica's ground sits within striking distance of Lynas' Mt Weld processing plant and Iluka's upcoming Eneabba refinery - two rare earth powerhouses that could offer a highly attractive toll treatment solution down the line. Meanwhile, the hunt for rare earths is far from over. Jupiter is just one piece of the puzzle within Critica's broader Brothers REE project - a province-scale play with multiple satellite targets already returning promising early results. Earlier this month, Critica fired up the rigs on a string of juicy satellite targets stretching across more than 8km, including the Juno and Aurora prospects, which are both a stone's throw from the main Jupiter deposit. Previous drilling at Juno already dished up a tasty teaser, with standout hits such as 8 metres going 4256ppm TREO and an impressive 34 per cent magnet rare earths. With a globally significant deposit, surging demand for non-Chinese supply chains and metallurgical testing in full swing, the market will no doubt be watching closely as test work ramps up and Critica moves to unlock the full potential of one of Australia's most significant critical minerals finds. Is your ASX-listed company doing something interesting? Contact: mattbirney@
