Mineral sands miner Iluka Resources has appointed James Mactier as its independent non-executive chair, effective from May 5.
Mineral sands miner Iluka Resources has appointed James Mactier as its independent non-executive chair, effective from May 5.
Mr Mactier has also been chair of goldminer Regis Resources since late-2018. Aside from vast knowledge of financial markets, he also spent 15 years as joint head of Macquarie Bank’s metals and energy capital division.
In a statement, Iluka managing director Tom O’Leary said both he and the board were looking forward to working with him.
“James joins Iluka at an important time,” he said.
“We’re in the midst of navigating a rapidly evolving macroeconomic environment as well as executing capital developments at Balranald and Eneabba, both of which mark key evolutions for the company.
“I look forward to working with James on the opportunities ahead. On behalf of the board, I also thank and acknowledge the leadership of Andrea Sutton as acting chair since the retirement of Rob Cole in December 2024.”
Earlier this year, the mineral sands miner announced the culling of 130 jobs, in a bid to preserve cash, as the ramping up of construction activities increased at its $1.8 billion Eneabba rare earths refinery.
A month later, Iluka announced it had made a full-year net profit of $231 million, which was down 33 per cent from $343 million in 2024. It’s revenue also regressed by 9 per cent to $1.1 billion.
Iluka shares last changed hands at $3.56, up 4 per cent as of 10.20am AWST.
