Jun 23, 2026 – 10.58amTaxpayer-backed Iluka Resources has signed a $220 million offtake deal with an unnamed global automaker, underpinning the first four years of operations at its $1.8 billion refinery in Western Australia.The Perth-headquartered group will receive minimum floor prices for its rare earth oxides – neodymium, praseodymium, dysprosium and terbium – which are critical to the manufacture of high-tech magnets found in electric vehicles, wind turbines and weaponry.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Iluka cashes in on surging rare earths demand with $220 million offtake deal with global automaker
The taxpayer-backed miner’s four-year deal will cover 10 per cent of production at its Eneabba refinery, at minimum prices for the elements.
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