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Iluka Resources Limited (ASX:ILU)

ALERT: Price-sensitive ASX Announcement for ILU
Current share price for ILU : $6.050 -2.08 (-25.58%)+
Announcement
Release
23 Jun 2026 8:14AM
Price at Release
$8.130
Full Release
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Summary
Iluka Resources Limited announced that they have satisfied the Australian Government financing condition for their rare earths initiative. The company has secured access to a A$1.65 billion non-recourse loan from Export Finance Australia (EFA) provided by the Australian Government to construct the Eneabba rare earths refinery. This funding is crucial for the development of their rare earths business, with the first tranche of A$1.25 billion expected to be fully drawn by the end of 2026. The Eneabba refinery is projected to be 75% complete by then, with commissioning scheduled for mid-2027. Additionally, Civmec has been awarded the contract for the structural, mechanical, piping, electrical, and instrumentation (SMPEI) works required to complete the construction of the refinery, which is currently over 50% complete.
Key Points
  • Iluka secured A$1.65 billion loan from Australian Government via EFA.
  • The loan is for constructing the Eneabba rare earths refinery.
  • Eneabba refinery's first tranche funding of A$1.25 billion expected to be fully drawn by end of 2026.
  • The refinery is anticipated to be 75% complete by the end of 2026.
  • Civmec awarded contract for SMPEI works for Eneabba refinery.
  • Construction completion of Eneabba refinery expected by mid-2027.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.