Jan. 20, 2011 - MINERAL sands producer Iluka Resources increased full-year sales revenue by 63.4 per cent last year, reflecting higher volumes and prices.
The company said that after hedging, mineral sands sales revenue for the December quarter was $295 million and $897.8m for the 12 months to December 31.
Iluka reported sales revenue in calendar 2009 of $549.7m.
The miner said it could not meet strong customer demand for zircon products in 2010, despite increasing sales to 240 tonnes from 138.7 tonnes in 2009.
Total zircon production rose to 412,900 tonnes in 2010, up from 263,100 tonnes in 2009, ahead of earlier guidance of about 400,000 tonnes.
Rutile production for the 12 months was 250,100 tonnes, in line with guidance of 250,000 tonnes, after 141,400 tonnes in 2009.
Zircon sales in calendar 2010 were 478,700 tonnes, compared to 222,600 tonnes in 2009.
Sales were higher than production, reflecting a drawdown in lower-margin Western Australia sourced inventory, mostly in the first half of the year, Iluka said. "Iluka finished the year in the position of being unable to satisfy fully strong customer demand for zircon products."
Full-year rutile sales were 240,000 tonnes, up from 138,700 tonnes in 2009, while synthetic rutile sales were 362,500 tonnes, from 396,700 tonnes the year before.
"The increase in year-on-year production volumes reflects a recovery in global demand for Iluka's products, following appreciably lower demand in 2009 associated with global economic conditions," the company said.
Recent wet weather in Victoria has disrupted Iluka's Murray Basin mining and concentrating operations.
Shares in Iluka rose 20c, or 2.27 per cent, to $9.02.
The company said that after hedging, mineral sands sales revenue for the December quarter was $295 million and $897.8m for the 12 months to December 31.
Iluka reported sales revenue in calendar 2009 of $549.7m.
The miner said it could not meet strong customer demand for zircon products in 2010, despite increasing sales to 240 tonnes from 138.7 tonnes in 2009.
Total zircon production rose to 412,900 tonnes in 2010, up from 263,100 tonnes in 2009, ahead of earlier guidance of about 400,000 tonnes.
Rutile production for the 12 months was 250,100 tonnes, in line with guidance of 250,000 tonnes, after 141,400 tonnes in 2009.
Zircon sales in calendar 2010 were 478,700 tonnes, compared to 222,600 tonnes in 2009.
Sales were higher than production, reflecting a drawdown in lower-margin Western Australia sourced inventory, mostly in the first half of the year, Iluka said. "Iluka finished the year in the position of being unable to satisfy fully strong customer demand for zircon products."
Full-year rutile sales were 240,000 tonnes, up from 138,700 tonnes in 2009, while synthetic rutile sales were 362,500 tonnes, from 396,700 tonnes the year before.
"The increase in year-on-year production volumes reflects a recovery in global demand for Iluka's products, following appreciably lower demand in 2009 associated with global economic conditions," the company said.
Recent wet weather in Victoria has disrupted Iluka's Murray Basin mining and concentrating operations.
Shares in Iluka rose 20c, or 2.27 per cent, to $9.02.
