During 2014, MMG completed the purchase of the Las Bambas copper mine project, a copper-gold-molybdenum deposit located in the Apurímac Region of Peru. The transaction closed as planned on 8 April 2011. The move came in response to falling demand as a result of the Global Economic Crisis. [10], In March 2009, Iluka announced that it would bring forward the closure of one of the Synthetic Rutile kilns at the Narngulu operations and that 23 jobs would be lost. The mineral sands sales increased 1.9% to $950.8 million up from $932.8 million in the previous year. Vallar decided to focus on investments in mining of metals, coal, and iron ore in the Americas, Russia, Eastern Europe, and Australia. Iluka Resources was formed in July 1998 in a merger between Westralian Sands and the titanium mineral business of RGC (Renison Goldfields Consolidated). Mineral Resources are further sub-divided, in order of increasing geological confidence, into inferred, indicated and measured as categories. The dividen was 19c a share (full franked) and increased the annual payout to 25c a share. Minerals and Metals Group became commonly referred to as MMG. He was previously managing director of Wesfarmers Chemicals, Energy and Fertilisers division, having been appointed to the role in 2010. MMG's Webpage | About Us: Our Major Shareholder, MMG Financial Report 2009 Minerals and Metals Group, "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic", http://www.mmg.com/en/Our-Operations/Mining-operations.aspx, http://www.mmg.com/en/Our-Operations/Mining-operations/Dugald-River.aspx, Peruvian protests against Las Bambas mining project, https://en.wikipedia.org/w/index.php?title=Minerals_and_Metals_Group&oldid=955686360, Articles lacking reliable references from July 2019, Creative Commons Attribution-ShareAlike License, This page was last edited on 9 May 2020, at 06:02. Together with other members of the Vallar management team, they have invested £100 million in shares of the company. An example is carbon-based fossil fuel. [6] Westralian Sands was established in 1954 but commenced operations in 1959 when it started mining and processing the Yoganup deposit near Capel in Western Australia. Some of the ilmenite is then processed into synthetic rutile. The original organic matter, with the aid of heat and pressure, becomes a fuel such as oil or gas. Natural resource management is a discipline in the management of natural resources such as land, water, soil, plants, and animals—with a particular focus on how management affects quality of life for present and future generations. [11] As a result of demand from China, the 2011 net year profit increased fifteen times the 2010 result. [14] In 2016, MMG was ranked as the third best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In July 2010 Vallar plc, a Jersey-incorporated investment vehicle founded by Nathaniel Rothschild, raised £707.2 million ($1.07 billion) in an Initial public offering on the London Stock Exchange. MMG's major shareholder is China Minmetals Corporation (CMC), a Chinese state-owned enterprise. [12], On 18 December 2013, Greg Martin was appointed Chairman of Iluka Resources. Iluka is the largest producer of zircon and titanium dioxide-derived rutile and synthetic rutile globally. [2], In November 2010, Vallar announced it was buying stakes for $3bn in two listed Indonesia thermal coal (used for power stations) producers for a combination of cash and new Vallar shares, with a view to combining them to create the largest exporter of thermal coal to China, India, and the other emerging economies of Asia. [4], In September 2012 the company announced that it was looking into possible financial irregularities at its Indonesian arms resulting in a 14% fall in its share price. Mr O'Leary joined Wesfarmers in 2000 in a Business Development role and was then appointed to managing director, Wesfarmers Energy in 2009. Iluka Resources was formed in July 1998 in a merger between Westralian Sands and the titanium mineral business of RGC (Renison Goldfields Consolidated). [13], The 2015 full-year profit was $53.5 million which was up from a $62.5 million loss in the previous corresponding period. The company has an 84.7% holding in Berau Coal. [5] Iluka mines heavy mineral sands and separates the concentrate into its individual mineral constituents rutile, ilmenite, and zircon. Asia Resource Minerals PLC, is a major international mining group. [9] Company profits were $61.7 million in 2008, almost three times the size of the forecast amount, this was a result of higher Zircon prices and a devaluation of the Australian dollar. Iluka Resources is an Australian-based resources company, specialising in mineral sands exploration, project development, operations and marketing. Iluka increased its interest to approximately 28 percent in 2016 with additional investment. [4], MMG owns and operates the Las Bambas copper mine in Peru, the Kinsevere mine in the Democratic Republic of Congo, the Dugald River mine at Cloncurry,[5] and Rosebery mines in Tasmania, Australia.[6]. [13] Iluka also commenced work in 2014 with Vale S.A in relation to the potential commercialisation of a large titanium ore body, with rare earth elements, in Minas Gerais, Brazil.

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