Iluka Resources tops production guidance, flags $565m in exceptional items
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The news: Critical minerals producer Iluka Resources topped its full-year production guidance, after delivering a 25% jump in output over the fourth quarter.
Iluka also flagged two exceptional items totalling about $565 million to be recognised in its financial results for 2025.
The numbers: Full-year production of zircon, rutile and synthetic rutile came to 559,000 tonnes, above guidance of 495,000 tonnes, and higher than last year's total of 496,000 tonnes.
Iluka said the improvement was driven by higher zircon output, due to optimised processing of remnant material through Iluka's separation facilities across its Eneabba, North Capel and Narngulu sites.
Q4 production came to 155,000 tonnes, up 25% from 124,000 tonnes in Q3.
Full-year unit cash costs of production of $1,054 per tonne were below guidance, again reflecting higher-than-expected zircon production.
Iluka's mineral sands business generated $976 million in revenue in 2025, with $276 million recognised in the fourth quarter.
The company's $565 million in exceptional items comprise a $350 million non-cash impairment in its mineral sands business, mostly relating to the suspension of activities at its Cataby mine, and a $215 million reduction in its inventory value, due to some product inventory items falling below their weighted average cost.
