0051 GMT - Iluka's Balranald project in New South Wales state is likely to be in the spotlight when the Australian mineral sands producer hosts its strategy day on May 5, Macquarie says. Iluka plans to deploy a remotely operated underground mining technology at commercial scale for the first time at Balranald, targeting rutile that was previously considered uneconomic to develop. "We believe the market has concerns due to the novelty of this mining method," Macquarie says. "Therefore, further clarity and information on the proposed technique and trial results could be positively received by the market during the strategy day." Macquarie notes that in-situ extraction methods are commonly used to recover bitumen located at depths, a method adopted by 80% of oil sand companies. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 27, 2025 20:51 ET (00:51 GMT)
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