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Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ILUKA RESOURCES LIMITED |
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Formerly Known As : |
WESTRALIAN SANDS LIMITED (initial) |
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Registered Office : |
Level 23, 140 St Georges Terrace Perth Western Australia 6000 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2012 (Consolidated) |
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Date of Incorporation : |
21.07.1954 |
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Com. Reg. No.: |
008675018 |
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Legal Form : |
Australian Public Company |
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Line of Business : |
Mineral sands exploration, project development, operations and
marketing. |
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No. of Employees : |
911 employees (Iluka Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract
high levels of foreign investment and include extensive reserves of coal, iron ore,
copper, gold, natural gas, uranium, and renewable energy sources. A series of
major investments, such as the US$40 billion Gorgon Liquid Natural Gas project,
will significantly expand the resources sector. Australia also has a large
services sector and is a significant exporter of natural resources, energy, and
food. Key tenets of Australia's trade policy include support for open trade and
the successful culmination of the Doha Round of multilateral trade
negotiations, particularly for agriculture and services. The Australian economy
grew for 17 consecutive years before the global financial crisis. Subsequently,
the former RUDD government introduced a fiscal stimulus package worth over
US$50 billion to offset the effect of the slowing world economy, while the
Reserve Bank of Australia cut interest rates to historic lows. These policies -
and continued demand for commodities, especially from China - helped the
Australian economy rebound after just one quarter of negative growth. The
economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7%
in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%,
peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an
improved economy, the budget deficit is expected to peak below 4.2% of GDP and
the government could return to budget surpluses as early as 2015. Australia was
one of the first advanced economies to raise interest rates, with seven rate
hikes between October 2009 and November 2010. The GILLARD government is focused
on raising Australia's economic productivity to ensure the sustainability of
growth, and continues to manage the symbiotic, but sometimes tense, economic
relationship with China. Australia is engaged in the Trans-Pacific Partnership
talks and ongoing free trade agreement negotiations with China, Japan, and
Korea
Source : CIA
Verified Address Subject name :
ILUKA RESOURCES LIMITED
Business address
: Level 23, 140 St Georges Terrace
Town :
Perth
Province :
Western Australia
Zip/postal code : 6000
Country :
Australia
Tel
: +61 8 93604700
Fax
: +61 8 93604777
Website
: www.iluka.com
Registered address
: Level 23, 140 St Georges Terrace
Town : Perth
Province
: Western Australia
Zip/postal code : 6000
Country :
Australia
Postal address :
GPO Box U1988
Town
: Perth
Province
: Western Australia
Zip/postal code
: 6845
Country
: Australia
Executive Summary
Date founded or registered :
21/07/1954
Legal form
: Australian Public Company
Chief executive :
David Alexander Robb
Issued & paid up capital
: AUD 114,000,000
Sales turnover :
AUD 1,631,400,000 (Consolidated 12 months, 31/12/2011)
Net income :
AUD 541,800,000 (Consolidated 12 months, 31/12/2011)
Total fixed assets
: AUD 2,453,800,000 (Consolidated 12 months, 31/12/2011)
Line of business :
Mineral sands exploration, project development, operations and marketing.
Staff employed : 911 employees (Iluka Group)
Company Analysis
Country risk
: Country risk is minimal
Operation trend : Operational trend is booming
Management experience : Management
is adequately experienced
Financial performance : Financial performance is very
good
Organization structure :
Organizational structure is consistent
Detrimental : No
detrimental found
Payment history
: No payment delays noted
Registry Data Registration date
: 21/07/1954
Legal form : Australian
Public Company
Registration no Australian Company Number: 008675018
Registered authority : Australian
Securities and Investments
Commission Fiscal/ Tax no : Australian
Business Number: 34008675018
Registry status : Live/Active
Previous name : WESTRALIAN
SANDS LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : David Alexander Robb
Designation : Managing Director
Name : Alan Tate
Designation : Chief Financial Officer
Name : Steve Wickham
Designation : General Manager, Australian Operations
Name : Hans Umlauff
Designation : General Manager, Project Management
Name : Christopher Cobb
Designation : General Manager, Sales and Marketing
Appointments
Name : George John Pizzey
Designation : Chairman
Appointment date : 07/11/05
Address : Royal Domain Tower, Unit 2902 368 St Kilda Road Melbourne, VIC
3004 Australia
Biography : Born on 28/07/1945 in Melbourne, Victoria, Australia.
Mr. George John Pizzey, BE (Chem), FellDip (Management), FTSE, FAICD,
FAIM, has been Non-Executive Independent Chairman of the Board of Iluka
Resources Limited since May 19, 2010. He has been on the Company's Board since
November 7, 2005. He is Member of the Remuneration and Nomination Committee of
the Company. He has experience in mining and mineral processing. Mr. Pizzey was
Chairman of Alcoa of Australia Limited and held a number of senior executive
positions at Alcoa Inc (USA). He is Director of Alumina Limited, Amcor Limited
and St. Vincent's Medical Research Institute. He was formerly Chairman of the
London Metal Exchange UK and a Director of WMC Resources Limited and Ivanhoe
Grammar School. He has served as Director of Alumina Limited (appointed June
2007) and Amcor Limited (appointed September 2003).
Name : David Alexander Robb
Designation : Director
Appointment date : 18/10/06
Address : 43 Minora Road
Dalkeith, WA 6009 Australia
Biography : Born on 04/07/1954 in Melbourne, Victoria, Australia.
Mr. David Alexander Robb, BSc, GradDip (Personnel Administration), FAIM,
FAICD, has been Chief Executive Officer, Managing Director and Executive
Director of Iluka Resources Limited since October 18, 2006. Mr. Robb was
previously Managing Director of Wesfarmers Energy as well as Executive Director
of Wesfarmers Limited. Prior to joining Wesfarmers, he held senior positions
with British Petroleum in Australia and overseas, including chief executive
responsibilities for a national service business in the United States for oil,
chemicals, consumer goods, marine and aviation businesses in Malaysia and as
Director responsible for oil marketing throughout South East Asia. He served as
Director of Consolidated Rutile Limited from October 2006 to May 2009. He holds
a Bachelor of Science degree from the University of Western Australia.
Name : Jennifer Anne Seabrook
Designation : Director
Appointment date : 01/05/08
Address : 29 Airlie Street Claremont, WA 6010 Australia
Biography : Born on 19/01/1957 in Katanning, Western Australia,
Australia.
Ms. Jennifer (Jenny) Anne Seabrook, BCom, ACA, FAICD, has been
Non-Executive Independent Director of Iluka Resources Limited since May 1,
2009. She is Chairman of the Audit and Risk Committee and Member of the the
Remuneration and Nomination Committee of the Company. She is Special Advisor to
Gresham Partners Limited. She is also Non-Executive Director of the Bank of
Western Australia Limited, M G Kailis Holdings Pty Limited, IRESS Market
Technology Ltd and Australia Post. Ms. Seabrook is Member of the Takeovers
Panel and Financial Advisory Group of the Financial Services Institute of
Australia (FINSIA) and Member of ASIC's External Advisory Group. She was formerly
Director of West Australian Newspapers Holdings Limited, BWA Managed
Investments Limited, St. Andrew's Superannuation Services Limited and Western
Power. She has served as Director of IRESS Market Technology Limited (appointed
August 2008) and Amcor Limited (appointed December 2011). She also acted as
Director of West Australian Newspaper Holdings Limited (appointed February
2006, resigned December 2008). She holds a Bachelors degree in Commerce from
the University of Western Australia.
Name : Wayne Geoffrey Osborn
Designation : Director
Appointment date : 26/03/10
Address : 26B Fraser Road Applecross, WA 6153
Australia
Biography : Born on 14/09/1951 in Stawell, Victoria, Australia.
Mr. Wayne Geoffrey Osborn, DipEng, MBA, FTSE, MIE(Aust), FAICD, has been
Non-Executive Independent Director of Iluka Resources Limited since March 26,
2010. Mr. Osborn is Chairman of the Remuneration and Nomination Committee of
the Company. Mr. Osborn is a former Managing Director of Alcoa of Australia
Limited. He is a non-executive Director of Leighton Holdings Limited and
Wesfarmers Limited, Chairman of Thiess Pty Limited, Chairman of the Australian
Institute of Marine Science, a Director of the International Centre for Radio
Astronomy Research and a Trustee of the Western Australian Museum. He was
formerly a Director of the Australian Business Arts Foundation and Vice
President of the Chamber of Commerce and Industry, Western Australia. He has
served as Director of Leighton Holdings Limited (appointed 6 November 2008) and
Wesfarmers Limited (appointed 24 March 2010).
Name : Stephen John Turner
Designation :
Director Appointment date : 26/03/10
Address : Unit 7, 4 Billyard Avenue Elizabeth Bay, NSW 2011 Australia
Biography : Born on 28/04/1961 in Gosford, New South Wales, Australia.
Mr. Stephen John Turner, BCom, ACA, has been Non-Executive Independent
Director of Iluka Resources Limited since March 26, 2010. He is Member of the
Audit and Risk Committee of the Company. Mr. Turner is Founder of the London
Stock Exchange listed company, International Ferro Metals Limited. He was Chief
Executive Officer of International Ferro Metals Limited from 2002 to 2009 and
continues as Non-Executive Director of that Company. He is also Director of
South American Ferro Metals Limited and Chairman of Vantage Goldfields Limited.
Mr. Turner has had responsibility for resource projects in Australia, Africa
and the Pacific Islands. He was Founding Director of the Australian subsidiary
of PSG Investment Group, a South African investment bank. He is an Australian
Chartered Accountant. He has also served as Director of International Ferro
Metals Limited (appointed 26 January 2002), Vantage Goldfields Limited
(appointed 22 October 2009), South American Ferro Metals Limited (appointed 11
November 2010), and Timpetra Resources Limited (appointed May 2010).
Name : Gavin Rezos
Designation : Director
Appointment date : 20/06/06
Address : 19 John Street Cottesloe, WA 6011 Australia
Biography : Born on 13/04/1961 in Perth, Western Australia, Australia.
Mr. Gavin John Rezos, BA, LLB, B.JURIS, MAICD, has been Non-Executive
Independent Director of Iluka Resources Limited since June 2006. He is Member
of the Audit and Risk Committee and the Remuneration and Nomination Committee
of the Company. He has Australian and international investment banking
experience and is former Investment Banking Director of the HSBC Group with
regional roles during his HSBC career based in London, Sydney and Dubai. Mr.
Rezos has held Chief Executive positions and executive directorships of
companies in the healthcare and technology areas in the UK, United States and
Singapore and was formerly Non-Executive Director of Amity Oil NL (Antares). He
is Chairman of Alexium International Group Limited, a principal of Viaticus
Capital Pty Ltd and Director of Rowing Australia. He is Director of Alexium
International Group Limited (appointed March 2010) and DFS International
Holdings Limited (appointed November 2008, resigned 30 August 2011). He holds a
Bachelors degree in Law and a Bachelor of Arts degree in International Politics
from the University of Western Australia.
Name : Cameron Wilson
Designation : Company Secretary
Appointment date : 08/12/04 Address : 46 Locke Crescent East Fremantle,
WA 6158 Australia
Biography : Born on 29/08/1966 in Melbourne, Victoria, Australia.
Mr. Cameron Wilson, LLB, GAICD, is General Manager of Corporate Services
and Company Secretary of Iluka Resources Limited. Mr. Wilson was appointed to
the position of Company Secretary when he joined the Company in 2004. Before
joining Iluka, Mr. Wilson held a range of legal and commercial roles at WMC
Resources Limited and prior to that worked as Solicitor with a legal practice.
He has specialised in mining, corporate and general commercial law for most of
his professional career.
Staff employed : 911 employees (Iluka Group)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS Brookfield Place, Level 15 125 St
Georges Terrace Perth, WA 6000 Australia
Composition Authorized Capital : AUD
114,000,000
No of shares : 38,000,000
Ordinary Shares Share par value : AUD
3
Issued capital :
AUD 114,000,000
Paid up capital : AUD
114,000,000
How listed : Major Shareholders Only
Composition
Shareholder name : BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED
Address : Level 18, 120 Collins
Street Melbourne, VIC 3000 Australia
% of shares : 9.58%
Shareholder name : FMR LLC AND FIL LIMITED
% of shares : 5.88%
Shareholder name : NATIONAL AUSTRALIA BANK LIMITED
Address : Level 34, 500 Bourke Street Melbourne, VIC 3000 Australia
% of shares : 5.16%
Shareholder name : M&G INVESTMENT MANAGEMENT LIMITED
Address : Laurence Pountney Hill London, EC4R 0HH United Kingdom
% of shares : 8.78%
Comments : The Subject was listed on the Australian Stock Exchange (ASX)
on the 30th of June 1962.
Structure
Name : WESTLIME (WA) LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ILMENITE PROPRIETARY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : WESTERN MINERAL SANDS
PROPRIETARY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ASSOCIATED MINERALS CONSOLIDATED LTD
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ILUKA CONSOLIDATED PTY LIMITED
Affiliation type : Wholly-owned
Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ILUKA EXPLORATION PTY LIMITED
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ILUKA RESOURCES INC.
Affiliation type : Wholly-owned Subsidiary
Address : 1301 Riverplace Boulevard, Suite 2601 Jacksonville, Florida
32207 United States
Name : ILUKA INTERNATIONAL (BRAZIL) PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Name : ASHTON COAL INTERESTS PTY. LIMITED
Affiliation type : Subsidiary
Address : Level 23, 140 St
Georges Terrace Perth, WA 6000 Australia
Name : BASIN MINERALS HOLDINGS PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : Level 23, 140 St Georges Terrace Perth, WA 6000 Australia
Related companies and corporate affiliations comments
: Other companies of the Iluka Group should be considered affiliates of
the Subject.
Bank Details Name of bank : National Australia Bank Limited
Address : Australia Account details : Current Account
Comments : It is generally not the policy of local banks to provide
credit status information to non related parties, however interested parties
would be advised to consult first with the Subject if banker's references are
required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None
reported.
Court judgements : None
reported.
Tax liens : None
reported.
Others : None
reported.
Description
Source of
financial statement : Public
Record Sources
Financial
statement date : 31/12/11
Type of accounts :
Full
audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD
0.96 as of 28-12-2012
Summarized Financial Information
Consolidation type
: Consolidated Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1) One (x1) One (x1) One
Date of financial
year end : 30/06/12 31/12/11 31/12/10
Length of accounts
: 6 months 12 months 12 months
Sale turnover /
Income : 711,000,000 1,631,400,000 964,100,000
Profit before tax
: 388,600,000 760,700,000 39,900,000
Net income : 274,400,000 541,800,000 36,100,000
Non current assets
: 1,525,300,000 1,500,300,000 1,544,000,000
Current assets : 888,900,000 953,500,000 395,900,000
Inventories : 546,600,000 376,200,000 201,000,000
Total assets : 2,414,200,000 2,453,800,000 1,939,900,000
Current
liabilities : 366,200,000
364,400,000 188,100,000
Non current
liabilities : 465,200,000 554,700,000 627,200,000
Total liabilities
: 831,400,000 919,100,000 815,300,000
Share equity : 1,582,800,000 1,534,700,000 1,124,600,000
Reserve : 15,800,000 16,400,000 20,400,000
Retained earning :
461,400,000 416,300,000 -4,100,000
Comments : The
consolidated financial information above relates to the Subject and its
subsidiaries.
Main activities : The Subject engages in
exploration, development, mining, and marketing
of mineral sands primarily in Australia and the United States. Subject
also
has royalty over iron ore produced from specific parts of BHP Billiton's
Mining Area C in Western Australia.
The Subject principally produces zircon; titanium dioxide products of
rutile
and synthetic rutile; and ilmenite.
The Subject’s products are used in various consumer, lifestyle, and
industrial applications, including pigment production used in paints,
plastics, papers, titanium metal production, welding electrodes, floor
and
wall tiles, sanitary ware, zirconium based chemicals, and zirconia metal
applications.
Its mining operations are located in Jacinth-Ambrosia, Eucla Basin,
South
Australia; Perth Basin, Western Australia; Murray Basin, Victoria,
Australia;
and Virginia, the United States.
Iluka Resources Limited was founded in 1954 and is based in Perth,
Australia.
Product &
services : Titanium dioxide
products: rutile, synthetic rutile, ilmenite
Zircon
Purchases
Local : Yes
International : Asian countries, Europe, United
States
Sales
Local : Yes
International : Worldwide
Key events : 23 May 2012
Iluka Resources Limited: Iluka Says 1Q Zircon Sales Soft, But Sees
Higher
2012 Earnings
Australian mineral sands producer Iluka Resources Ltd. (ILU.AU)
Wednesday said its sales of zircon in the first three months of 2012
were
soft, but that the company continues to expect a considerable rise in
earnings and free cash flow this year and will likely maintain a
"cash buffer"
until the current global economic turmoil eases.
In an address to shareholders, Managing Director David Robb said global
economic conditions remain challenging. While the company doesn't
publish revenue figures until its June quarter report, he confirmed
first-quarter zircon sales were weighed by global economic worries and
the
cooling of the Chinese economy.
Shipment "timing issues" for Iluka's titanium dioxide products
also meant a
substantial volume of its first-quarter output wasn't shipped, he said,
without elaborating.
Robb said there has been some signs of improved economic traction in
major economies like the U.S. and China, but that European demand
remains subdued and may be at risk of deteriorating further if the sovereign
debt crisis in the eurozone worsens.
"However, a positive sign is that European customer zircon sand
stocks are
almost exhausted, which should now require replenishment," he said.
"We still expect a material increase in earnings and free cash flow
in 2012,"
he said. "Iluka will maintain a prudent balance sheet. This may
entail a
'cash buffer' until the level of global turmoil recedes," Robb
said.
Iluka is the world's largest zircon producer, accounting for about a
third of
global market share, and one of the biggest producers of titanium
dioxide
minerals. Zircon has a number of applications, including in ceramics,
while
titanium dioxide is predominantly used for producing pigments. The two
mineral sands are Iluka's main products.
Earlier this month, Iluka announced it would reduce planned zircon
output
this year due to continued global economic uncertainty, a move that will
mean lower sales of the commodity for the full year, and a rise in
production costs.
Still, Robb said zircon prices are holding steady around US$2,400 a
metric
ton. Interest in bulk orders also appears to be resuming, he said.
Iluka's share price moved slightly higher after Robb's remarks. It
recently
traded at A$13.32 a share, down 2.8% on Tuesday's close but up 2.2% on
its earlier session low. The price reached an intraday high at A$13.49 a
share. The ASX 200, meanwhile, was trading down 1.1%.
7 May 2012
Iluka Resources Limited : Iluka Resources To Cut Planned Zircon
Production This Year
Australian mineral sands producer Iluka Resources Ltd. (ILU.AU) Tuesday
said that it would reduce planned zircon output this year due to
continued
global economic uncertainty, a move that will mean lower sales of the
commodity and a rise in production costs.
The Perth-based company expects to produce around 430,000 metric tons
of zircon, less than the 500,000 tons it forecast in February and a
further
drop from the 601,000 it produced last year, it said in a statement.
Sales of
zircon for the year are expected to total around 400,000 tons, rather
than
the 450,000 previously forecast.
The company left its guidance for production and sales of titanium
dioxide
unchanged.
Iluka is the world's largest zircon producer, with about a third of
global
market share, and one of the biggest producers of titanium dioxide
minerals. Zircon has a number of applications, including in ceramics.
Titanium dioxide is predominantly used to produce pigments.
Iluka had previously cautioned that demand for zircon was likely to be
soft
for the first quarter or two of 2012. It said that sales volumes
improved in
April following a weak first quarter, but large euro-zone countries
facing
austerity measures have shown increasing weakness even as the U.S. and
China showed signs of improved economic traction.
The adjustment to zircon output will be achieved mainly through mining
lower-grade ore at Iluka's Jacinth-Ambrosia operation in South Australia
and processing less zircon-rich concentrate at its Narngulu and Hamilton
mineral separation plants, Iluka said.
Lower zircon output is expected to raise unit cash costs for production
to
roughly A$700 a ton of zircon, rutile and synthetic rutile, from
previous
guidance of about A$650/ton. But Iluka said revenue per ton it expects
to
receive will still mean a material increase in margins over 2011.
16 January 2012
Iluka Resources: Revenues jump by 75%, but I’m steering clear
Iluka Resources Limited (ASX:ILU) revenues are growing quickly, but
lower
zircon production and sales levels in 2012 is the warning sign that this
may
be as good as it gets.
Iluka Limited released its quarterly production report on 12 January
2012.
The 75 per cent increase in revenues from $874.4m to $1,536.7m was
mainly thanks to an 83 per cent increase in zircon and titanium dioxide
prices.
Full year 2011 sales revenue per tonne of zircon/rutile and synthetic
rutile
(Z/R/SR) was A$1,480/tonne compared with A$809/ tonne in 2010. This
was partially offset by a higher Australian/US Dollar exchange rate
(2011
average was 103.2 cents compared with 2010 average of 92 cents).
Full year cash costs of production are estimated at A$537/tonne, which
compares favourably with 2010 costs of A$539/tonne.
The company
Iluka is one of the world’s largest producers of mineral sands products.
The company engages in the exploration, mining, concentration, and
separation of mineral sands.
It produces and sells titanium based products (ilmenite, rutile and
synthetic
rutile) and zircon. The company’s products are used in a range of
consumer, lifestyle, and industrial applications, including pigment
production used in paints, plastics, papers, titanium metal production,
welding electrodes, floor and wall tiles, sanitary ware, zirconium based
chemicals, and zirconia metal applications.
Property & Assets
Premises : The
Subject operates from premises located at the verified heading
address consisting
of an administrative office.
Branches : In addition, the Subject operates from
branch offices located at:
South West, Western Australia
PO Box 96
Capel, WA 6271
Australia
Tel: +61 8 93604700
Mid West – Narngulu, Western Australia
PO Box 84
Geraldton, WA 6531
Australia
Tel: +61 8 93604700
Murray Basin, Victoria
Locked Bag 1001
Hamilton, VIC 3300
Australia
Tel: +61 3 55512300
Adelaide , South Australia
11 Dequetteville Terrace
Kent Town, SA 5067
Australia
Tel: +61 8 83002000
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign
exchange & gold : US$ 43.879
billion
Gross domestic
product - GDP : US$ 1.586
trillion
GPP (Purchasing
power parity) : 954.296
billion of International dollars
GDP per capita -
current prices : US$ 68,916
GDP - composition
by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2009:
1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate
: 2009: 5.6%
2010: 5.2%
2011: 5.1%
Public debt
(General
Government gross debt as
a % GDP):
2009: 16.9%
2010: 20.4%
2011: 22.9%
Government bond
ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of
publicly traded
shares: US$1.258
trillion
Largest companies
in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking
Group (Banking),
Rio Tinto (Materials), National Australia Bank (Banking),
ANZ Banking
(Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports
commodities : Coal, iron
ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports
commodities : Machinery and
transport equipment, computers and office machines,
telecommunication
equipment and parts, crude oil and petroleum products
Export - major
partners : Japan 18.9%, China
14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major
partners : China 15.5%, US
12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%,
UK 4.3%, Thailand
4.2%
FDI Inflows : 2008: US$46,843
million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows : 2008: US$33,604
million
2009: US$16,160 million
2010: US$26,431 million
Best countries for
doing business : 10 out of 183 countries
Global
competitiveness ranking : 20 (ranking by country on a basis of 142, the first
is the best)
Country and Population Overview
Total population :
22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as
% of total
population: 76%
Purchase Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-120 days
International :
L/C, Prepayment, Telegraphic transfer, D/P, Credit 30-120 days
Sales Term
Local :
Prepayment, Bank transfer, D/P, Credit 30-120 days
International :
L/C, Prepayment, Telegraphic transfer, D/P, Credit 30-120 days
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track
record history cannot be appropriately determined but based
on our research,
payments are believed to be met without delay.
Investigation Note
Sources :
Interviews and material provided by the Subject
: Other official
and local business sources
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution
needed for credit transaction. It has above average (strong) capability for payment
of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties
seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores obtained
from each of the major sections of this report. The assessed factors and their
relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.