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Iluka flicks switch on BHP royalty demerger

Brad Thompson
Brad ThompsonReporter
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Key Points

  • Revenue ($m) 1318.0, down 2.4%
  • Pre-tax profit ($m) -1.0, down 100.2%
  • Net profit ($m) 299.7, down 198.6%
  • Final dividend (c) 8.0, down 57.9%
  • Dividend payable April 2

Mineral sands miner Iluka Resources is moving to spin off a lucrative iron ore royalty it reaps from BHP in a move some analysts expect to unlock more than $2 billion in value.

Iluka said it planned to demerge the royalty it earned from BHP’s Mining Area C (MAC), which is set to soar once the iron ore giant’s new $US3.6 billion ($5.4 billion) South Flank iron ore mine in Western Australia begins production next year.

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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
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    Original URL: https://www.afr.com/companies/mining/iluka-flicks-switch-on-bhp-royalty-demerger-20200220-p542iv