Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

BRIEF-Iluka Resources says decided to make "90 roles redundant" after review

Published 31/01/2017, 09:24 am
© Reuters.  BRIEF-Iluka Resources says decided to make "90 roles redundant" after review
ILU
-

Jan 31 (Reuters) - Iluka Resources Ltd ILU.AX

* Decided to make about "90 roles redundant" after sustainable business review to remove cost from business

* "Reviewed likelihood of developing some of iluka's mineral deposits in australia and united states"

* Review "necessitated write-down of some assets, particularly in Murray Basin"

* Review resulted in 27 % reduction to current estimates of ore reserves, from 23.0 million tonnes of heavy mineral as at 31 dec 2015 to 16.7 million tonnes

* 2016 net profit after tax is estimated to be between loss of $220 million to loss of $230 million Source text for Eikon: ID:nASX84zgy9 Further company coverage: ILU.AX

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.