0051 GMT - Goldman Sachs adds Iluka Resources to its Asia-Pacific conviction list, predicting a doubling in the Australian miner's Ebitda by 2028. Iluka produces nearly a third of the world's zircon, which analyst Paul Young reckons is "one of the best structural supply side stories in commodities." The company is also building a rare earths refinery, "a strategic asset considering it will only be the Western world's fifth refinery outside of China," GS says. The bank has a A$7.70 target on Iluka, which is up 0.6% at A$5.22. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 07, 2025 19:51 ET (00:51 GMT)
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