Iluka reports its Ore Reserves and Mineral Resources in accordance with the JORC Code (2012 Edition). The following table provides a summary of Iluka’s Ore Reserves and Mineral Resources as at 31 December 2016. Iluka’s complete Ore Reserves and Mineral Resources statement can be accessed below. 

Summary Ore Reserves and Mineral Resources 2016


Ore Reserves In Situ Heavy Mineral 
Tonnes (millions)
 
Sierra Rutile
In Situ Heavy Mineral
Tonnes (millions)
Opening Ore Reserves 2016 23.0   -
Production / Depletions  (0.4)
-
New Ore Reserves / Adjustments (5.9) 
3.9
Closing Ore Reserves 2016 16.7  
3.9
Ore Reserves Net Change  (6.3)
3.9

Totals may not add due to rounding



Mineral Resources In Situ Heavy Mineral 
Tonnes (millions)
 
Sierra Rutile
In Situ Heavy Mineral
Tonnes (millions)
Opening Mineral Resources 2016  172.9
 -
Production / Depletions  (0.4) 
-
New Mineral Resources / Adjustments  (2.0)
7.5
Closing Mineral Resources 2016  170.5
7.5
Mineral Resources Net change  (2.4)
7.5

Totals may not add due to rounding


The Ore Reserves and Mineral Resources for the Sierra Leone rutile deposits are reported separately as there is insufficient information to state the assemblage in terms of a portion of the heavy mineral (HM) content which is traditionally done in reporting heavy minerals. Historical data focussed on the in situ rutile content which is honoured in the reporting of Ore Reserves and Mineral Resources for Sierra Leone.

Iluka announced on 31 January 2017 a review of Iluka’s estimates of Ore Reserves and Mineral Resources, not including Sierra Rutile. The review was undertaken in the context of the recent acquisition of the Sierra Rutile operation and other strategic priorities. The reduction in Ore Reserves shown above in large measure reflects the outcome of this review.

Ore Reserves reclassified are not associated with any current operating mines or those idled and expected to resume, nor do they form part of any deposits within Iluka’s current 10 year mine plan. It should be noted that there has been no material change to the estimates of Ore Reserves for any of Iluka’s existing material projects, namely Jacinth-Ambrosia, Cataby and Tutunup South, nor has there been any change in Modifying Factors (such as price forecasts) associated with this review.


In Situ Heavy Mineral 
Tonnes (millions)
In Situ Heavy Mineral 
Tonnes (millions)

Further Information