Latest news with #IlukaResources
West Australian
23-07-2025
- Business
- West Australian
Market ignores tariff noise as Iluka Resources emboldened by Uncle Sam's move to fix rare earths prices
Iluka Resources has yanked guidance for one of its mineral sands exports for the next quarter blaming tariffs, but is optimistic the Pentagon's recent swoop on a major rare earths miner bodes well for its own local ambitions. The listed miner recovered from a weaker quarter by delivering 150,000 tonnes of zircon and rutile from its Cataby operations in WA and the Jacinth-Ambrosia project in South Australia, it reported on Wednesday. But citing 'ongoing uncertainty and the broad range of potential outcomes on market dynamics', Iluka told investors it would not be providing guidance in terms of expected production, or pricing, for its zircon products. The commodity is among many caught up in sweeping tariffs imposed by the US and is set to be levied at 10 per cent from August 1, though Iluka noted that about 50 per cent of Uncle Sam's zircon imports come from South Africa. 'Titanium dioxide feedstocks and rare earth oxides remain exempt from tariffs,' Iluka said. Amid geopolitical tussles to secure rare earths supplies the United States Government bought more than $600 million worth of shares in California miner MP Materials, and inked an offtake to buy its product at a set minimum price. Iluka has long been pushing for rare earths prices 'independent pricing mechanisms that are not linked to the Asian Metals Index', in a bid to break China's stranglehold on the in-demand ingredient used in magnets for high-tech applications. And it told investors the agreed price of $US100 per kilo of rare earths products set between MP and the US Department of Defense was encouraging for its own rare earths refinery build at Eneabba. 'Iluka has previously provided a range of possible scenarios for utilisation of the Eneabba refinery at long-term forecast NdPr prices of $108/kg.' The group said locking in a price floor was 'an acknowledgement by the US government that higher prices for separated rare earth oxides are essential to building a sustainable Western and like-minded supply chain.' As part of its $1.65 billion funding deal with the Australian Government, the Eneabba rare earths refinery being built near Jurien Bay has strict restrictions imposed on future output being sold to China. So far $570 million has been spent on construction, with earthworks completed and concrete contractors making 'good progress'. Equipment has also started to arrive on site. Iluka shares closed the day up 4 per cent to $5.39.
Sky News AU
18-07-2025
- Business
- Sky News AU
ASX 200 continues to soar, adding to its record high after a boom on Wall Street
The ASX has surged again, tracking gains on Wall Street and continuing the momentum picked up on Thursday when it closed at a record high. The index has risen 0.7 per cent in the first 45 minutes of trading on Friday, adding more than $20b to local investors' portfolios. Best performers include major miners Iluka Resources (up 4.9 per cent), Pilbara Minerals (up 6.5 per cent) and Mineral Resources (up 4.4 per cent). Australian regenerative medicine company Mesoblast has surged about 20 per cent after revealing strong results from the commercial launch of children's drug Ryoncil. Mining giant BHP has jumped 1.8 per cent after revealing record copper and iron ore production in the 2025 financial year. RBC Capital Markets analyst Kaan Peker said he expects the 'stock to do well today' after the revelation. 'FY25 production guidance was achieved, with record iron ore production and two million tonnes of copper produced for the year,' Mr Peker said. Tech stocks have shined on Friday with family social media app-owner Life360 rising two per cent per cent, buy-now-pay-later company Block jumping 2.7 per cent and data centre owner Nextdc rising 1.5 per cent. Wall Street was in the green on Thursday with the Dow Jones and S&P 500 rising half a per cent while the Nasdaq jumped 0.8 per cent. London's FSTE 250 added 0.8 per cent, Germany's DAX lifted 1.5 per cent and the STOXX Europe 600 rose one per cent on Thursday. New Zealand's NZX 50 Index has slumped 0.1 per cent since trading began on Friday while Japan's Nikkei 225 is up 0.1 per cent.
Yahoo
11-07-2025
- Business
- Yahoo
Australian rare earth stocks soar on MP Materials' multi-billion US deal
(Reuters) -Shares of Australian rare earths miners, including Lynas and Iluka Resources, soared on Friday after U.S.-based MP Materials' a multibillion-dollar deal with the U.S. government to boost production of rare earth magnets. Lynas Rare Earths, the world's largest rare earths producer outside China, surged as much as 20% to its highest since mid-August 2022 and was set for its best day since April 2020. Iluka skyrocketed 27%, marking its biggest intraday gain ever. The stocks were the top gainers on the benchmark ASX 200, which edged higher, as of 0558 GMT. The deal between the U.S. Department of Defense (DoD) and MP Materials lifted sentiment for Australian rare earth firms. It comes on the heels of China imposing restrictions on rare earths, resulting in a 75% drop in rare earth magnet exports from the country last month and forcing some auto companies to suspend production. Rare earths comprise 17 metals used to make magnets that are critical in manufacturing cars, including electric vehicles, some auto parts, weapons, and electronics. As part of the deal, the DoD will become the largest shareholder in MP Materials and guarantee a floor price of $110 per kilogram for the two most popular rare earths, nearly double of current market prices in China. "This signals a strong U.S. push for rare earth magnet independence, lifting upside risk across the rare earth pricing complex. Lynas appears to be the next logical beneficiary of government market support," Jefferies said in a note. "We see the resetting of the pricing metrics for rare earths as delivering material upside potential to Lynas' earnings in the near term and an increased potential for the de-risking of its growth projects via government entity funding." The brokerage upgraded Lynas to "buy" from "underperform" and hiked its price target to A$10 a share from A$6.40. Lynas was last trading at A$9.67. Smaller lithium players Sayona Mining and Liontown Resources jumped 2.8% and 1.6%, respectively. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
11-07-2025
- Business
- News.com.au
Lunch Wrap: Resources the only bright spot as ASX stumbles
ASX pulls back after a strong open 35% US tariff on Canadian goods finally shakes markets Resources the only bright spot, up 2.04pc Trump threatens 35% tariff on Canada Despite reversing a digital revenue tax on US companies, Canada's trade negotiations with the White House are not going the way Ottawa – or the rest of us – might've liked. Last night US President Trump threatened to impose a 35% blanket tariff on Canada starting next month, in a letter released on his Truth Social platform. This latest letter follows a slew of others sent to US trading partners threatening tariffs of up to 40% on imported goods. While those earlier salvos did little to shake markets, this latest attack on America's northern neighbour has had an immediate impact. Despite surging almost 0.6% this morning, the ASX 200 has made a bit of a hash of things as of lunchtime AEST, down 0.04%. Could be worse, of course… and in fact it was just a short time ago. Every sector but resources is in a strategic retreat, with real estate leading the backpedal. There's not much to report in the indices, either – the ASX 200 Ressie is up 1.77% but other than that it's pretty much a sea of red. Taking a look at our big cap movers, rare earths and lithium are on the up as Canadian miners grapple with being left out in the cold. Iluka Resources (ASX:ILU) has added 17.7%, Lynas Rare Earths (ASX:LYC) 17.6%, Mineral Resources (ASX:MIN) 6.8% and Brazilian Rare Earths (ASX:BRE) 2.98%. Other minerals are benefiting from the spectre of Canadian tariffs too – aluminium manufacturer Capral (ASX:CAA) is up 4%, and iron ore giant Fortescue (ASX:FMG) has added 3.57%. ASX SMALL CAP WINNERS Security Description Last % Volume MktCap FAL Falconmetalsltd 0.335 76% 4805415 $33,630,000 NPM Newpeak Metals 0.032 52% 11026862 $6,763,506 SRN Surefire Rescs NL 0.003 50% 15512980 $4,972,891 RMI Resource Mining Corp 0.02 43% 1346229 $10,282,347 LKY Locksleyresources 0.0925 36% 26873582 $12,466,666 AOA Ausmon Resorces 0.002 33% 564000 $1,966,820 RNX Renegade Exploration 0.004 33% 380000 $3,865,090 ATH Alterity Therap Ltd 0.012 33% 30528236 $82,146,336 CMB Cambium Bio Limited 0.27 26% 95628 $3,930,773 FHS Freehill Mining Ltd. 0.005 25% 1750040 $13,655,414 TON Triton Min Ltd 0.005 25% 249329 $6,273,555 JNS Januselectricholding 0.18 24% 601463 $13,037,568 HIQ Hitiq Limited 0.016 23% 685694 $5,976,073 JGH Jade Gas Holdings 0.032 23% 593692 $43,857,688 BCA Black Canyon Limited 0.22 22% 962542 $23,337,125 BMM Bayanminingandmin 0.061 22% 6039247 $5,147,770 1AI Algorae Pharma 0.006 20% 83299 $8,436,974 AAU Antilles Gold Ltd 0.006 20% 31905207 $11,895,340 ADR Adherium Ltd 0.006 20% 149 $6,934,791 BCM Brazilian Critical 0.012 20% 3038561 $13,105,332 EM2 Eagle Mountain 0.006 20% 3626120 $5,675,186 PGY Pilot Energy Ltd 0.012 20% 5527425 $21,586,600 WR1 Winsome Resources 0.225 18% 1651128 $46,339,756 LOC Locatetechnologies 0.13 18% 181370 $25,756,968 CXU Cauldron Energy Ltd 0.01 18% 437993 $15,224,869 In the news… A startlingly high-grade gold hit of 1.2m at 543 g/t has brought Falcon Metals (ASX:FAL) sharply into the spotlight, as the company drills the first wedge hole at the Blue Moon prospect. FAL was topping ASX charts last week on claims they'd found Bendigo-style gold mineralisation after hitting 0.3m at 48.7 g/t gold at Blue Moon. These latest results certainly support that assertion – the Bendigo Goldfield has produced 22 million ounces of gold since it was first discovered in 1851, a bounty Falcon is keen to tap into. Surefire Resources (ASX:SRN) has wrapped up a 27-hole, 3651m drilling program at the Yidby gold project, targeting new zones of wide sulphide mineralisation. Neighbour Capricorn Metals (ASX:CMM), owner of the nearby 3.9Moz Mt Gibson gold deposit, has been snapping up more land just 30km to the south in the same greenstone belt. With 564 samples off to the laboratory for assay, SRN is expecting the first results within days with plenty more to come. Eye and tissue repair biotech Cambium Bio (ASX:CMB) has begun dosing patients in a Phase 3 trial for its Elate Ocula dry eye disease therapy. Management says it's an important milestone in the journey to commercialisation, as CMB enters the final stages of developing the therapy in a clinical setting. Concussion management technology company HitIQ (ASX:HIQ) has expanded into the UK market, launching its PROTEQT system for rugby players and similar 'collision sports' like hockey. HIQ is running a dual business model with both upfront product sales and an ongoing subscription; players receive a new instrumented mouthguard each year that includes the latest innovations. ASX SMALL CAP LAGGARDS Code Name Price % Change Volume Market Cap ICU Investor Centre Ltd 0.001 -67% 752314 $913,534 HLX Helix Resources 0.001 -50% 4012451 $6,728,387 OB1 Orbminco Limited 0.001 -33% 1275000 $5,103,852 PAB Patrys Limited 0.001 -33% 300000 $3,548,715 ALR Altairminerals 0.003 -25% 603750 $17,186,977 CRR Critical Resources 0.003 -25% 501305 $11,080,342 NTM Nt Minerals Limited 0.0015 -25% 100000 $2,421,806 PRS Prospech Limited 0.018 -22% 2556325 $8,712,995 BMG BMG Resources Ltd 0.008 -20% 13374986 $8,443,972 VFX Visionflex Group Ltd 0.002 -20% 13000 $8,419,651 ADD Adavale Resource Ltd 0.0205 -18% 4568119 $2,859,088 TX3DA Trinex Minerals Ltd 0.1 -17% 54415 $2,090,695 CHM Chimeric Therapeutic 0.005 -17% 303251 $12,091,165 IPB IPB Petroleum Ltd 0.005 -17% 1088198 $4,238,418 SIS Simble Solutions 0.005 -17% 128334 $6,493,982 CCX City Chic Collective 0.08 -15% 1615670 $36,204,833 AKA Aureka Limited 0.09 -14% 516632 $13,235,280 EMT Emetals Limited 0.003 -14% 45000 $2,975,000 RDS Redstone Resources 0.003 -14% 250000 $3,619,936 VKA Viking Mines Ltd 0.006 -14% 108085 $9,407,641 AGY Argosy Minerals Ltd 0.025 -14% 19688263 $42,221,707 AX8 Accelerate Resources 0.007 -13% 159 $6,537,510 GTR Gti Energy Ltd 0.0035 -13% 410855 $14,835,762 AQC Auspaccoal Ltd 0.015 -12% 3578886 $11,907,949 OSL Oncosil Medical 1.115 -11% 64648 $17,775,971 IN CASE YOU MISSED IT Neurizon Therapeutics (ASX:NUZ) has made progress toward lifting a US Food and Drug Administration (FDA) clinical hold on its lead drug NUZ-001. Codeifai's (ASX:CDE) acquisition target – which will be called the QuantumAI secure platform – has locked in an exclusive deal with a NATO-approved defence firm. LAST ORDERS DY6 Metals (ASX:DY6) is systematically exploring its 4,974km2 landholding at the Central rutile project in Cameroon with a soil sampling campaign. Plotted on 5km by 1km line spacing, the program will cover the entire regional geological trend, zeroing-in on areas of higher rutile grades to provide drilling targets for an upcoming program. At Stockhead, we tell it like it is. While DY6 Metals is a Stockhead advertisers, it did not sponsor this article. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The Advertiser
11-07-2025
- Business
- The Advertiser
Aussie shares dip despite strong gains by mining sector
Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday.
