• Production settings in 2026 reflect idling of Cataby mine and synthetic rutile kilns
• Commissioning ongoing at Balranald with mining and HMC production
• Z/R/SR sales in Q1 2026 were 70kt, with zircon sand prices in line with Q4

Iluka Resources Limited (ASX:ILU) released its quarterly review for the period ending 31 March 2026. Key points include:- Production settings in 2026 reflect the Cataby mine being idled with no production of heavy mineral concentrate (HMC), zircon or rutile, and both synthetic rutile kilns being idled with their restart subject to market conditions.- Commissioning is ongoing at the Balranald project in New South Wales, with mining continuing with Rig 1 and commencing with Rig 2. On-specification magnetic and non-magnetic HMC has been produced, which will be processed into finished goods until H2.- Z/R/SR sales in Q1 2026 were 70kt, including 40kt of zircon sand and no synthetic rutile sales. The Q1 weighted average zircon sand price was in line with Q4 at US$1,491/t.- Iluka has contracted 50kt of zircon sand sales for Q2, incorporating price increases of up to US$120/t, and expects weighted average zircon sand prices in Q2 to increase by approximately US$45/t on an FOB basis.- Total capital expenditure spent at the Eneabba rare earths refinery through 31 March 2026 was $977 million, with engineering 99% complete and remaining contracts pending award.- As at 31 March 2026, Iluka had $417 million net debt for the mineral sands business and $693 million non-recourse net debt for the rare earths business.