Iluka Shares Nosedive on $565m Cataby Suspension Blow

Iluka shares nosedive on $565m Cataby suspension blow

A slump in the price of mineral sands that has already forced Iluka Resources to suspend mining operations at Cataby will add to a forecast $565 million charge against the company’s books.

Iluka braces for $565m hit on mineral sands division

Iluka Resources is preparing to record $565 million worth of charges against its mineral sands division after suspending its Cataby mine, sending its shares sliding.

Iluka Resources Flags $565 Million in Charges

Iluka Resources has announced that it will recognise approximately $565 million in exceptional items, pre-tax, in its financial results for the year ending December 31, 2025. These charges include a non-cash impairment of around $350 million, pre-tax, within its mineral sands business and a net realisable value adjustment to inventory of about $215 million, pre-tax. Iluka Resources is an Australian-based resources company, specialising in minera…