Sierra Leone Business: Iluka ups Zircon Price by 746%

Mineral sands miner Iluka has announced that effective 1st July it is increasing its price per ton for Zircon.
In a release posted on its website, the Australian Miner said on Wednesday 24th May that effective 1st July 2017 its Zircon Reference Price of US$130 per tonne will be increased to US$1,100.
It explained, “The Reference Price1 is the benchmark against which a range of Iluka zircon products are priced,” and cautioned that “Iluka’s weighted average received price can and does vary from this, reflecting specific customer arrangements, market channels, geographies and product mix.”
This is a 746% increase which Iluka says it “considers it appropriate to inform the market” whilst also emphasising that it “does not provide price forecasts.”
Monday July 10, 2017.