Iluka Resources Limited (Iluka) notes the recent UK media speculation regarding a potential combination of Iluka and Kenmare Resources Plc (Kenmare). In accordance with its continuous disclosure obligations, Iluka confirms that it has made an approach to Kenmare in relation to a potential combination, which may be implemented by way of an offer for Kenmare. There is no certainty that any transaction will be progressed or, in particular, that an offer will be made, or as to the terms on which an offer may be made if forthcoming.

 

Iluka’s assessment of a potential transaction involving Kenmare is consistent with Iluka’s strategy of assessing various mineral sands opportunities, and exploring transactions where financial merit and strategic rationale may exist.

 

A further announcement will be made if and when appropriate.