Iluka in talks for more taxpayer funding for rare earths refinery

Iluka Resources is in talks with the Albanese government about the future of Australia’s first rare earths refinery after revealing a building cost blowout is at the top end of what it feared two months ago.

Perth-headquartered Iluka said on Wednesday that the new price tag on the refinery was $1.7 billion to $1.8 billion, at the top end of the blowout range it warned investors about in December.