Australian firm positive on Kenmare Resources takeover plan

Australian mineral exploration company Iluka Resources remains upbeat about its chances of acquiring Dublin-based miner Kenmare Resources.

The Perth-headquartered company yesterday reported annual losses of A$62.5m (€42.8m), worsened by impairment charges, for 2014, down from a profit of A$24m in 2013.

Takeover negotiations, resurrected late last year, are ongoing with Kenmare, with due diligence also being carried out.