Updated February 21, 2013 13:44:03
The mineral sands miner Iluka Resources says its full-year profit has fallen by a third and it is planning on cutting up to 200 jobs.
The company made $363.2 million after tax last year.
That is down 33 per cent on its 2011 profit.
In an effort to reduce its production costs, the company says as many as 200 positions within its Australian operations will be made redundant.
Iluka’s managing director David Robb says staff were aware that job cuts were on the cards when prices for its products dropped last year.
He says job losses will mainly be felt by contractors and he is confident of getting the workers back when prices improve.
The company announced in January, that its mineral sands mine near Eneabba in the state’s mid west, will remain idle until economic conditions improve.
Iluka is the largest zircon producer in the world and the second biggest producer of the high grade titanium dioxide minerals.
The majority of the company’s production operations are within Australia, including WA, Victoria and South Australia.
It also has mining and processing operations in Virginia in the United States.Topics: mineral-sands, company-news, wa First posted February 21, 2013 12:07:38