However, the market needs to ascertain that there is approx $500 mill (US) worth of zircon in that pit. That alone makes the separation of the material $ worthy.
Without the refinery, ILU would have sent that material offshore to be separated, then they would sell the result. This way they control the whole process. Not including the heavy rare earths that will be separated in the process.
The zircon at Eneabba has historically been some of the highest grade zircon on the planet
ILU Price at posting:
$8.51 Sentiment: None Disclosure: Held
