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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.