Iluka H1 revenue falls

Mineral sands miner Iluka (ILU) has suffered a 10% slide in revenue during the first half of 2014 as a fall in prices offsets increased production.

Iluka recorded revenue of $343 million during the half, down from $382 million for to the same period in 2013.

Production of zircon, rutile and synthetic rutile rose 5.9% to 252,000 tonnes during the half while sales volumes were down 3.5% to 277,000 tonnes.

Meanwhile, the average price the company received for its minerals fell to $1,015 per tonne, from $1,178 per tonne a year ago.