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Growth options are evaluated and pursued through a variety of means, including:

  • advancing internal mineral sands projects;
  • investment in innovation and technology related to mineral sands processing and product development;
  • an Australian and international mineral sands exploration programme, as well as selective involvement in other mineral  commodities;
  • the expansion of the company's international marketing presence; and
  • the evaluation and preparedness to pursue corporate growth opportunities in mineral sands or other mineral commodities, subject to strict criteria.

Acquisitions, Alliances and Joint Ventures

Acquisitions, alliances and joint venture activity forms one part of Iluka's approach to growth. ​​

Sierra Rutile

Iluka completed the acquisition of Sierra Rutile Limited by means of a merger on ​7 December 2016.

Sierra Rutile is a large, long life rutile mining and processing operation with material expansion options. It also provides the company with a quality mineral sands operation to continue to service the high grade titanium dioxide feedstock market. Combined with Iluka’s existing operations and internal projects, Sierra Rutile also provides increased portfolio flexibility in relation to capital expenditure timing.

Further information on the merger can be found here

Sierra Rutile


In 2014 Iluka established an Investment Agreement with the private, UK-based, Metalysis Ltd for an interest of 20.8 per cent in the company ($22.7 million). In 2016 Iluka made a further investment of $19.0 million, lifting its equity interest to 28.1 per cent.

Iluka's involvement provides access to a new, potentially disruptive technology and the potential benefits of a new source of high grade titanium dioxide feedstock demand. This investment forms part of Iluka’s alliancing and new ventures approach and, as the largest shareholder in Metalysis, Iluka has
two directors on the Board. 

Metalysis is developing a single stage process for the manufacture of various metals into powder form directly from ore. The initial work has focused on titanium and tantalum metals. The Metalysis process could result in material reductions in the cost of producing titanium powder and as such lead to significantly higher levels of use of titanium metal in a range of applications, given the superior attributes of titanium metal.

The advantages of the Metalysis process over traditional methods include:

  • powder direct from titanium ore or upgraded feedstocks (synthetic rutile) resulting in fewer processing steps;
  • minimal wastage;
  • lower operating costs; and
  • more environmentally efficient - lower energy use, reduced emissions and no hazardous chemicals required.

Iluka is contributing its knowledge and technical expertise to Metalysis in areas such as:

  • customisation of titanium feedstock blends;
  • project management and commercialisation capabilities; and
  • process engineering.

The potential benefits for Iluka shareholders if the technology is able to be commercialised include:

  • the investment in Metalysis will deliver significant value for shareholders as that company's value increases;
  • Iluka has been granted by Metalysis a titanium metal licence as well as a right of first offer over future titanium metal powder production licences, consistent with the licence agreement in which Iluka has a non-exclusive licence, hence the potential to be involved in downstream processing; and
  • the technology introduces a new source of demand for Iluka's high grade products of rutile and synthetic rutile.