Mineral sands prices are rising and ilmenite is the hot new kid on the block
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The mineral sands industry is booming right now.
The rebound in the titanium feedstock market since late 2020 has continued and with the closure of Rio Tinto’s (ASX:RIO)Richards Bay mine in South Africa and the impending suspension of Iluka’s (ASX:ILU) Sierra Rutile mine in November (pending any potential return to profitability) the supply side is looking tight.
Iluka said in its June quarterly that the potential suspension plus violence at a major feedstock producer in South Africa has created additional concern around future supply of feedstocks heading into the second half and beyond.
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The company has confirmed the presence of a significant chargeability anomaly within the Needles Property and plans to begin a program comprising three.