AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Iluka appoints experienced leader James Mactier as new chair
- Shares lift following leadership announcement
- Strategic focus on mineral sands and rare earths continues
Iluka Resources (ASX:ILU) saw a positive reaction on the ASX as the company announced the appointment of James Mactier as its new chair. Shares of the mineral sands and rare earths producer rose 3.5% to $3.56 in early trading following the leadership update.
Mactier, a seasoned executive with a strong background in mining and resources, will officially assume the role of chair and non-executive director on 5 May. He will also lead the nominations and governance committee. His appointment comes after Andrea Sutton stepped in as acting chair, following the retirement of Robert Cole in December.
Bringing over two decades of experience from his time at Macquarie, Mactier is well-versed in the mining and energy sectors. He spent 24 years with the firm, including 15 years as co-head of its metals and energy capital division. He also holds the position of chair at Regis Resources (ASX:RRL), a gold mining company.
Commenting on his new role, Mactier expressed optimism about Iluka’s strategic direction. He highlighted the company’s established mineral sands operations and its expansion into the rare earths sector, viewing the combination as a compelling growth opportunity, particularly in the context of broader economic and geopolitical developments.
Iluka is well known for its production of zircon, rutile, and synthetic rutile—key components in ceramics and titanium metal. In recent years, the company has also taken significant steps to develop a rare earths business, aligning with global demand trends for clean energy technologies and high-tech applications.
Despite a 33% decline in full-year profit reported in February, largely attributed to weaker demand across mineral commodities, Iluka continues to pursue its long-term strategy. The company’s vision includes building a vertically integrated rare earths supply chain in Australia, positioning it to play a larger role in the critical minerals space.
The market’s response to the leadership change reflects confidence in Mactier’s ability to steer the company through a period of transformation. His background in capital markets and mining investments is expected to bring valuable insight to Iluka’s board as it focuses on unlocking new opportunities in both its core and emerging business segments.
With a renewed leadership team and a strategic focus on high-growth materials, Iluka is poised to navigate evolving market dynamics while strengthening its position in global mineral supply chains.
