Tag Archives: mineral

Mineral sands miner Iluka to slash jobs

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

Midwest mineral sands miner cuts 65 workers

Mid West mineral sands miner Iluka Resources has announced 65 workers at its Eneabba mine will be made redundant.

The company says there has been a significant slump in demand, with sales down more than 50 per cent compared to the previous financial year.

The job cuts will take effect in March when the company puts the project in “idle mode” due to a significant decrease in demand for their product.

Iluka’s Robert Porter says economic conditions have been difficult and it is not yet clear if the operation will reopen.

“It’s not a formal closure as such as it is an idling,” he said. “In effect this operation has been idled in the past and recommenced.

“Obviously determination as to whether Eneabba recommences and when that may be, will be some time into the future I imagine.”

Mr Porter says a host of factors led to the decision.

“We’re seeing the adverse effects on demand in terms of global economic conditions, lack of confidence or fragile confidence by our customers and customers down stream of us or downstream of our customers have had inventory they’ve had to sell before they would reorder.”

Topics: mineral-sands, eneabba-6518, perth-6000