ILU said in their quarterly “Iluka’s sales of rutile are almost exclusively to the welding market”. This is a fragmented market that pays high prices. Most of SRL’s sales are to pigment.
That said, Iluka achieved US$1,262/tn for its 90-91% TiO2 synthetic rutile, so that does make their SRL’s price very low.
Ann: Update on Legal Proceedings in Sierra Leone, page-23
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