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Iluka down but not out

ILUKA Resources has recorded a closing December 31 net debt of $A506 million, and an estimated a loss between $220-30 million in 2016 net profit after tax, after adjustments triggered by a sustainable business review undertaken after the Sierra Rutile acquisition in December.

Karma Barndon
Iluka in the Perth Basin.

Iluka in the Perth Basin.

The mineral sands miner has also cut 90 jobs from its 440-strong staff and more job losses may be coming. Those jobs were in support functions and it cost Iluka $7 million in redundancies. According...

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