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Iluka Resources Limited (ASX:ILU) has spruiked an upbeat outlook for minerals sands market. The producer expects total zircon, rutile and synthetic rutile sales this year to grow beyond last year’s figure of 580,000 tonnes.
Speaking at the company’s AGM Managing Director David Robb told investors the industry is emerging from a cyclical downturn and sales volumes will be restored over the coming years.
The AGM also revealed production volumes are likely to be in-line with guidance while non-cash costs and capital expenditure are trending at, or better than, guidance.
The upbeat outlook comes after Iluka last month reported a fall in first quarter total mineral sands production and revenue but a rise in zircon and rutile output.
Shares in Iluka Resources jumped 6.07 per cent on Wednesday to close at $9.08. Iluka Resources’ net profit dropped 95 per cent to $18.5 million over the 2013 calendar year.
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