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Article: AUST MINERAL MINER ILUKA BLAMES GLOBAL CRISIS FOR PRODUCTION FALL.
- Article from:
- AsiaPulse News
- Article date:
- October 14, 2009
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MELBOURNE, Oct 14 Asia Pulse - Australian mineral sands miner Iluka Resources Ltd (ASX:ILU) has blamed the global financial crisis for a fall in its production in the September quarter.
Iluka's total mineral sands production in the three months to September 30 fell 40.4 per cent to 331,900 tonnes, from 557,300 tonnes during the corresponding period a year earlier.
Post-hedging revenue fell 32.1 per cent in the quarter, to A$151.1 million (US$137.3 million), down from A$222.5 million (US$202.19 million) a year earlier, the company revealed in its latest production report.
Revenue for the year to date was ...