Iluka's Rare Earths Deal Likely With a Major U.S. EV Maker -- Market Talk
Dow Jones
Jun 24
2340 GMT - The mystery buyer of some of Iluka's planned rare-earth production is likely a large U.S. electric-vehicle manufacturer with significant permanent magnet demand, says Macquarie. "We see scope for additional offtake agreements in the future," the bank says. Volumes contracted under the announced deal suggest a more gradual ramp-up than Macquarie expected. "Though upside remains as third-party feed is incorporated," it says. Macquarie reiterates an outperform rating but lowers its target by 4.8% to 8.00 Australian dollars a share, citing a weaker earnings outlook. Shares ended Tuesday at A$7.25. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
June 23, 2026 19:40 ET (23:40 GMT)
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