Business Description:
Iluka Resources Limited (ILU) is involved in the exploration, project development, operation and marketing of mineral sands. Operations are located in Australia and the United States. ILU also has a royalty over iron ore produced from specific parts of BHP Billiton's Mining Area C in Western Australia.

Strategy Analysis:
Iluka´s objective is to create and deliver value for shareholders through exploration and innovation. The focus is on large, high quality, long life operations. The company seeks to meet customer needs though investment in high quality production sources, product and technical development as well as providing price leadership in mineral sand products to allow sustainable customer profitability. Iluka Resources reported NPAT of $145.9m for the half-year ended 30 June 2011. Compared to a net loss of $6.6m last year, this result reflects higher sales volumes, higher product pricing and a full-half contribution from the company's new, higher margin operations commissioned in the pcp. Revenues from ordinary activities were $616.3m, up 45.3% from the same period last year. Basic and Diluted EPS was 35.0 cents compared to (1.6) cents last year. Net operating cash flow was $231.1m compared to $42.3m last year. The interim dividend declared was 20 cents compared with nil last year.