The heavily indebted Mineral Resources has seen more money funnelled into a cash-burning garnet mine run by Chris Ellison’s brother.
Adrian Rauso
A large chunk of taxpayer cash is set to go up in smoke with the financial restructuring of a WA mineral sands miner looking increasingly likely.
The world of looking for pay dirt can quickly build up fortunes and just as easily wipe them out. With the year drawing to a close we take a look at eight junior miners that exemplified this rollercoaster.
Mineral sands miner Iluka Resources has secured a massive stash of extra cash from the Federal Government to deliver its ambitious rare earths refinery at Eneabba.
Adrian Rauso and Daniel Newell
An ailing mineral sands market and inefficiencies digging up dirt have pushed the operator of a Kimberley mine to trim approximately 30 roles.
Mineral sands miners Tronox and Image Resources have evacuated all non-critical staff and Iluka Resources is on alert as a bushfire tears through Wedge Island, Grey, Cooljarloo and Nambung.
Simone Grogan
Mineral Resources’ ties to businesses run by Chris Ellison’s daughter and brother could soon be cut, according to the company’s outgoing chair James McClements.
A troubled garnet mine near Kalbarri run by a Mineral Resources subsidiary that Chris Ellison’s brother leads is racking up a hefty debt owed to its cash-starved parent company.
The boss of Iluka Resources has warned the government needs to tip in more money to construct the company’s rare earths refinery just north-east of Jurien Bay.
A newcomer has sprung up in the heated contest to take control of a West African mineral sands miner based in Perth.
A US miner that employs nearly 1100 West Aussies wants to transform waste stockpiles into valuable critical minerals, but uncertainty about production tax credit eligibility could scupper those ambitions.
Iluka Resources was targeted in an attempted hack, understood to be from China, not long after the miner’s boss accused China of rigging the rare earths market.
More than 40 years ago, Western Australia found itself with an incredible opportunity.
Rebecca Tomkinson
A rare earths aspirant being probed by the Foreign Investment Review Board over its Chinese links has replaced its executive chairman with a prominent pro-China businessman.
The boss of Iluka Resources has issued a stern warning as China seeks to ‘weaponise’ the supply of vital materials to purposely force down prices to unviable levels for Australian miners.
Marion Rae & Adrian Rauso
A potentially globally significant Australian rare earths producer has criticised China for "weaponising" the market and holding back vital western development.
Marion Rae
Mineral sands miner Iluka Resources says it will need to keep wooing the Federal Government for more money to build a huge new rare earths refinery as it hands down weak sales and production results.
The major metals trader hoping to seize control of Sierra Rutile has decried “doctored photos”, after a picture of Sierra Leone’s President disembarking a mysterious private plane surfaces.
Sierra Rutile was already a cautionary tale of doing business in West Africa. Now, the tumult surrounding how Sierra Leone’s regime perceives the miner’s hostile suitor marks a new chapter.
The board of Sierra Rutile has decried a cash takeover offer lobbed by one of its major shareholders in the midst of Government negotiations and a weak mineral sands market as “opportunistic” and “inadequate”.
A day after riding in with a tempting buyout deal Sierra Rutile’s white knight wants to put the company’s board to the sword.
In a game of chicken with Sierra Leone’s government Iluka Resources spinout Sierra Rutile is moving forward with a plan to sack hundreds of workers and stop activity at its only operational mine.
Adrian Rauso and Simone Grogan
Iluka Resources is set to stick its hand out for more government cash as the cost blowout for the Eneabba rare earths project swells to at least $500 million.
Iluka Resources is on track to lift overall mineral sands output for the year but has failed to follow through on sales because of subdued economic activity in China.
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