Iluka Gives Green Light For $1.2b Eneabba Rare Earths Refinery Stage 3
The board of Iluka Resources (ASX:ILU) has approved the Eneabba Rare Earths Refinery (Phase 3) development in Western Australia. The decision followed the achievement of two central milestones associated with the project: completion of the feasibility study, demonstrating solid economics and significant potential for growth; and agreement of a risk sharing arrangement with the Australian Government, including through a non-recourse loan under the Australian Government’s $2 billion Critical Minerals Facility, administered by Export Finance Australia (EFA). Phase 3 will deliver a fully integrated refinery for the production of separated rare earth oxides at Eneabba, north of Peth. The refinery will be capable of processing rare earth feedstocks sourced from both Iluka’s portfolio and from a range of potential third party…