Iluka FY production falls

Quarterly mineral sands revenue lifts but miner 'constrained' in production.

Iluka Resources's (ILU) mineral sands sales revenue lifted in the three months to December but the group says lower annual production is in line with guidance.

In a statement to the Australian Securities Exchange, Iluka said its 2013 December quarter mineral sands revenue was $234.3 million, up from $182.5 million in the three months to December 2012.

Mineral sands revenue was $763 million in the year to December 2013, down from $1.07 billion in the prior year.

Total mineral sands production was 207,100 tonnes in the three months to December 2013, down from 281,700 tonnes in the previous corresponding period.

Over the year to December, mineral sands production was 1.1 million tonnes, down from 1.5 million tonnes in the prior year.

The miner said lower annual production "is in line with guidance and reflects production constraint consistent with Iluka's preferred approach to a period of low market demand".

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