Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Iluka secures $1.2B loan from Australia for rare earths refinery

Iluka secures $1.2B loan from Australia for rare earths refinery

Mining.comMining.com2026/06/23 13:24
By:Mining.com

Iluka Resources said on Tuesday that the Australian government has provided a A$1.65 billion ($1.15 billion) non-recourse loan to build the Eneabba rare earths refinery in Western Australia.

Iluka said the loan access was confirmed by Export Finance Australia, the country’s export credit agency.

The funding comes as Western countries look to reduce their dependence on rare earths from China, the largest producer, for the materials that are vital for electric vehicles and other technologies.

Iluka expects the first tranche of the funding, comprising A$1.25 billion, to be fully drawn by 2026-end, when Eneabba is expected to be 75% complete. The refinery is currently over 50% complete, the company said.

Eneabba will be Australia’s first fully integrated rare earths refinery, according to the company.

The miner said Civmec has been awarded a contract for structural, mechanical, piping, electrical and instrumentation (SMPEI) works at the refinery.

Separately, Iluka said it had concluded a binding agreement for the supply of magnet rare earth oxides to an unnamed global automotive company.

The agreement has an initial term of four years, and represents about 10% of Iluka’s planned production over that period.

Iluka expects revenue over the contract period to be $155 million minimum and $172 million assuming prices forecast by the industry.

($1 = 1.4290 Australian dollars)

(By Nichiket Sunil; Editing by Sahal Muhammed)

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

VIPTradFi Focus: Where Does the RWA Market Stand Today?

1. Crypto outperformed traditional equity indexes following the rate hike, but elevated interest rates remain a key constraint on cross-asset allocation. From September 12 to 18, BTC, ETH, and SOL gained 4.83%, 3.84%, and 9.96%, respectively, while the S&P 500 edged down 0.08%. The U.S. Dollar Index rose 1.11%, and the 10-year U.S. Treasury yield closed at approximately 4.998%. Improving risk appetite is therefore coexisting with elevated discount rates, raising the bar for RWA allocation: investors need to compare not only returns on the underlying assets, but also on-chain liquidity and collateral efficiency. 2. Growth in tokenized equities is occurring even as the overall RWA market remains under pressure. As of September 18, Distributed Asset Value across RWAs stood at $38.503 billion, down 1.13% week over week, while tokenized equities reached $3.056 billion, up 6.03%. This week's data are better explained by capital reallocating across different RWA segments than by a broad-based expansion of the entire RWA market. 3. For exchanges, the opportunity lies in connecting spot holdings, collateral, and derivatives. Reality's distributed asset value stands at approximately $155 million, while eligible rTokens can already be used within Bitget's UTA margin framework. Across CoinGlass's verifiable sample of 177 TradFi instruments, open interest reached approximately $11.498 billion, up 2.06% week over week, even as weekly trading volume declined 7.60%. The medium-term opportunity remains intact, but deeper utilization will depend on liquidity, collateral use, and sustained trading activity. 4.Assets to watch: BTC, ETH, SOL, NEAR, ZEC, gold, tokenized U.S. equities, COST. 5.Key metrics to watch: rToken collateral utilization, the durability of TradFi open interest and trading volume, and next week's employment and consumer data.

Bitget2026/09/21 06:38
TradFi Focus: Where Does the RWA Market Stand Today?