ILUKA RESOURCES LIMITED — Major Shareholding Notification 2004

Dec 23, 2004

FACSIMILE

Deutsche Bank

To	Company Secretary Iluka Resources Limited	Deutsche Bank AG ABN 13 064 165 162 GPO Box 7033 Sydney NSW 1170
Fax No	$(08)$ 9360 4777	Level 18, 225 George Street Sydney NSW 2000 Australia
CC	Company Announcements Office Australian Stock Exchange	Tel: 61 2 9258 1234 Fax: 61 2 9258 2223 Direct: 61 2 9258 2674
	(via ASX Online or fax 1900 999 279)
From	Donata Lumnitzer
Date	24 December 2004
Subject	Substantial Holding Notice
Total Pages	(including this page) 8.

If you do not receive all the pages, please telephone immediately.

This facsimile is intended only for the individual or entity named above and may contain information that is confidential and privileged. If you are not the intended recipient you must not use, distribute or copy this facsimile. If you have received this facsimile in error, please notify us immediately by telephone and destroy the original. Thank you.

Attached is a copy of the Substantial Holding Notice we lodged today with the ASX. The originals were posted to you today.

Donata Lumnitzer Compliance Analyst

Form 603 Corporations Act Section 671B Notice of initial substantial holder $To:$ Iluka Resources Limited Level 23, 140 St Georges Terrace Perth WA 6000 ABN 34 008 675 018 To: Australian Stock Exchange Limited 1. Details of substantial shareholder Name and ARN

Deutsche Bank AG (ABN 13 064 165 162) and its related bodies corporate (together, the "Deutsche Bank Group" became a substantial shareholder on 22 December 2004.

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in on the date of the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person's votes	Voting power
ι Ordinarγ shares i	11,715,381	11,715,381	5.03%
Ordinary shares $\mathsf{m}$ which a derivative interest is held	9.000	N/A	0.00%
Total			5.03%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Class and number of securities (ordinary shares unless stated)
Deutsche Asset Management (Australia) Limited and each of its holding companies in the Deutsche Bank Group.	In its capacity as investment manager. Exercise of voting and disposal powers is subject to any client directions.	11,657,182
	Each holding company of Deutsche Asset Management (Australia) Limited, including Deutsche Bank, is deemed to have the same relevant interest.
Deutsche Securities Australia Limited and each of its holding companies in the Deutsche Bank Group.	In its capacity as stockbroker and in various other related capacities. Each holding company of Deutsche Securities Australia Limited, including Deutsche Bank, is deemed to have the same relevant interest.	9.000 ordinary shares in which a derivative interest is held

Holder of relevant interest	Nature of relevant interest	Class and number of securities (ordinary shares unless stated)
Deutsche Asset Management Limited or other foreign member of the group and each	In its capacity as investment manager, stockbroker or in various other related capacities.	58,199
of their holding companies in the Deutsche Bank Group.	Each holding company of the relevant foreign member of the Deutsche Bank Group, including Deutsche Bank, is deemed to have the same relevant interest.

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be registered as	Class and number
interest	securities	holder	of securities
			(ordinary shares
			unless stated)
Deutsche Asset	Cogent Nominees Pty	Anglican Retirement Villages Diocese	35,598
Management (Australia)	Ltd	of Sydney
Limited and each of its
holding companies in
the Deutsche Bank
Group.
	JP Morgan Custodial	FSS Trustee Corporation, as trustee of	1,782,909
	Services Pty Ltd	certain superannuation schemes under
		the Superannuation Administration Act
	JP Morgan Custodial	SAS Trustee Corporation, as trustee of	1,864,980
	Services Pty Ltd	certain superannuation schemes under
		the Superannuation Administration Act
	JP Morgan Nominees	EIF Pty Ltd as trustee for the Energy	248,552
	Australia Limited	Investment Fund
	JP Morgan Nominees	LGSS Pty Limited and LIF Pty Limited	805,149
	Australia Limited	as Trustees of the Local Government
		Superannuation Scheme and Local
		Investment Fund respectively
	JP Morgan Nominees	Zurich Investment Management	1,978,322
	Australia Limited	Limited as Responsible Entity for ZIM
		Unit Trusts
	National Australia Bank	Seafarer's Retirement Fund Pty Ltd as	141,437
	Limited	Trustee of the Seafarer's Retirement
		Fund
	National Australia Bank	Victorian Funds Management	1,073,042
	Limited	Corporation as trustee for the
		Government Superannuation Office
	National Australia Bank	Victorian Funds Management	591,962
	Limited	Corporation as trustee for the Victorian
		Transport Accident Commission
	National Australia Bank	Victorian Funds Management	843,703
	Limited	Corporation as trustee for the Victorian
		WorkCover Authority
	Westpac Custodian	Deutsche Asset Management	2,174,661
	Nominees Ltd	(Australia) Limited as responsible
		entity for the Deutsche Australian
		Equities Alpha Fund

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities (ordinary shares unless stated)
Deutsche Asset Management (Australia) Limited and each of its holding companies in the Deutsche Bank Group.	Westpac Custodian Nominees Ltd	Deutsche Asset Management (Australia) Limited as responsible entity for the Deutsche Core Australian Equities Fund	1,867
	Westpac Custodian Nominees Ltd	PMI Mortgage Insurance Limited	115,000
Deutsche Securities Australia Limited and each of its holding companies in the Deutsche Bank Group.	Pan Australian Nominees Pty Ltd	Not Known	9,000 ordinary shares in which a derivative interest is held
Deutsche Asset Management Limited or other foreign member of the Deutsche Bank Group and each of their holding companies in the Deutsche Bank Group.	Not available at time of filing	Not available at time of filing	58,199

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Refer to schedule 1.

6. Associates

$N/A$

7. Addresses

The addresses of persons named in this form are:

Name	Address
Deutsche Bank Group C/- Level 18, 225 George Street, Sydney, New South Wales, 2000.
Aunx
Signature
	Name	Jamie Hutchinson	Date	24 December 2004

Group Name		ASX Stock	Trade Date Trans Type		Trans, Number Consideration
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	26/08/2004	B	178	$-808.11$
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	3/09/2004	В	10,887	$-50,923.94$
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	5/10/2004	в	156	$-755.04$
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	28/10/2004	В	191	$-928.20$
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	2/11/2004	Β	308	$-1,471.90$
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	16/12/2004	B	64,733	-368,078.31
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	22/12/2004	B	77,829	-490,073.65
DEUTSCHE ASSET MANAGEMENT	ILU	ORD	22/12/2004	Β	234,210	$-1,474,773.53$
DEUTSCHE SECURITIES	ILU	ORD	23/08/2004	В	1,550	$-6,944.00$
DEUTSCHE SECURITIES	ILU	ORD	23/08/2004	в	23,695	$-106,347.90$
DEUTSCHE SECURITIES	ILU	ORD	23/08/2004	в	22,323	-99,772.65
DEUTSCHE SECURITIES	ILU	ORD	24/08/2004	B	2,325	$-10,501.26$
DEUTSCHE SECURITIES	ILU	ORD	25/08/2004	B	2,487	$-11,000.00$
DEUTSCHE SECURITIES	ILU	ORD	25/08/2004	B	9,089	-39,446.26
DEUTSCHE SECURITIES	ILU	ORD	25/08/2004	B	49,434	-215,092.28
DEUTSCHE SECURITIES	ILU	ORD	26/08/2004	B	1,000	$-4,520.00$
DEUTSCHE SECURITIES	ILU	ORD	26/08/2004	Β	4,340	$-19,455.61$
DEUTSCHE SECURITIES	ILU	ORD	27/08/2004	В	25,110	$-116,148.06$
DEUTSCHE SECURITIES	ILU	ORD	31/08/2004	B	2,913	$-13,546.62$
DEUTSCHE SECURITIES	ILU	ORD	1/09/2004	В	1,620	$-7,652.88$
DEUTSCHE SECURITIES	ILU	ORD	1/09/2004	B	14,530	$-66,939.71$
DEUTSCHE SECURITIES	ILU	ORD	7/09/2004	В	6,712	$-31,210.80$
DEUTSCHE SECURITIES	ILU	ORD	7/09/2004	Β	2,685	$-12,458.40$
DEUTSCHE SECURITIES	ILU	ORD	13/09/2004	Β	8,130	$-39,093.11$
DEUTSCHE SECURITIES	ILU	ORD	15/09/2004	B	1,500	$-7,125.00$
DEUTSCHE SECURITIES	ILU	ORD	15/09/2004	B	5,295	$-25,112.65$
DEUTSCHE SECURITIES	ILU	ORD	15/09/2004	B	4,801	$-22,756.74$
DEUTSCHE SECURITIES	ILU	ORD	16/09/2004	В	60,776	-284,680.86
DEUTSCHE SECURITIES	ILU ILU	ORD ORD	16/09/2004 17/09/2004	B B	1,500 14,451	$-7,005.00$ $-68,497.74$
DEUTSCHE SECURITIES DEUTSCHE SECURITIES	ILU	ORD	20/09/2004	B	7,400	$-35,224.00$
DEUTSCHE SECURITIES	ILU	ORD	21/09/2004	B	100,000	-471,800.00
DEUTSCHE SECURITIES	ILU	ORD	21/09/2004	B	32,000	-151,088.00
DEUTSCHE SECURITIES	ILU	ORD	21/09/2004	B	24,994	$-117,986.43$
DEUTSCHE SECURITIES	ILU	ORD	22/09/2004	B	6,581	$-31,422.63$
DEUTSCHE SECURITIES	ILU	ORD	22/09/2004	В	32,000	$-152,585.60$
DEUTSCHE SECURITIES	ILU	ORD	23/09/2004	B	5,200	$-25,235.60$
DEUTSCHE SECURITIES	ILU	ORD	24/09/2004	В	5,065	$-24,387.32$
DEUTSCHE SECURITIES	ILU	ORD	27/09/2004	B	10,429	$-49,573.00$
DEUTSCHE SECURITIES	ILU	ORD	28/09/2004	B	100,000	-480,711.00
DEUTSCHE SECURITIES	ILU	ORD	28/09/2004	В	16,463	-78,710.92
DEUTSCHE SECURITIES	ILU	ORD	29/09/2004	В	4,115	$-19,836.36$
DEUTSCHE SECURITIES	ILU	ORD	1/10/2004	В	2,669	$-12,891.27$
DEUTSCHE SECURITIES	ILU	ORD	1/10/2004	Β	67,014	$-322,792.37$
DEUTSCHE SECURITIES	ILU	ORD	1/10/2004	В	25,464	-122,672.82
DEUTSCHE SECURITIES	ILU	ORD	4/10/2004	В	353	$-1,726.19$
DEUTSCHE SECURITIES	ILU	ORD	4/10/2004	B	13,860	$-67,285.86$
DEUTSCHE SECURITIES	ILU	ORD	4/10/2004	в	2,100	$-10,227,00$
DEUTSCHE SECURITIES	ILU	ORD	4/10/2004	Β	32,146	-156,035.72
DEUTSCHE SECURITIES	ILU	ORD	5/10/2004	В	10,152	$-49,440.24$
DEUTSCHE SECURITIES	ILU	ORD	6/10/2004	в	59,334	$-281,415.23$
DEUTSCHE SECURITIES	ILU	ORD	6/10/2004	В	67,528	-320,008.44

$\hat{\mathcal{A}}$

Ŷ,

J.

Group Name		ASX Stock		Trade Date Trans Type	Trans, Number Consideration
DEUTSCHE SECURITIES	ILU	ORD	6/10/2004	в	37,885	$-179, 141.12$
DEUTSCHE SECURITIES	ILU	ORD	6/10/2004	в	9,753	-46,229.22
DEUTSCHE SECURITIES	ILU	ORD	7/10/2004	В	12,634	$-59,655.47$
DEUTSCHE SECURITIES	ILU	ORD	7/10/2004	B	21,124	-99,497.63
DEUTSCHE SECURITIES	ILU	ORD	7/10/2004	В	12,108	$-57,149.76$
DEUTSCHE SECURITIES	ILU	ORD	8/10/2004	В	19,272	$-90,809.66$
DEUTSCHE SECURITIES	ILU	ORD	8/10/2004	B	9,193	-43,460.92
DEUTSCHE SECURITIES	ILU	ORD	8/10/2004	B	5,326	$-25,032.20$
DEUTSCHE SECURITIES	ILU	ORD	11/10/2004	в	13,786	$-64,711.07$
DEUTSCHE SECURITIES	ILU	ORD	11/10/2004	в	2,875	$-13,412.97$
DEUTSCHE SECURITIES	ILU	ORD	12/10/2004	В	28,362	$-133,736.76$
DEUTSCHE SECURITIES	ILU	ORD	15/10/2004	B	36,879	-166,984.65
DEUTSCHE SECURITIES	ILU	ORD	21/10/2004	B	5,368	$-25,014.88$
DEUTSCHE SECURITIES	ILU	ORD	22/10/2004	B	120	$-559.20$
DEUTSCHE SECURITIES	ILU	ORD	22/10/2004	В	600	$-2,796,00$
DEUTSCHE SECURITIES	ILU	ORD	25/10/2004	Β	5,819	$-25,952.74$
DEUTSCHE SECURITIES	ILU	ORD	25/10/2004	B	6,200	$-28,027.70$
DEUTSCHE SECURITIES	ILU	ORD	25/10/2004	B	1	$-4.53$
DEUTSCHE SECURITIES	ILU	ORD	26/10/2004	В	40,000	$-181,984.00$
DEUTSCHE SECURITIES	ILU	ORD	27/10/2004	В	12,500	$-58,625.00$
DEUTSCHE SECURITIES	ILU	ORD	27/10/2004	B	50,120	-235,839.66
DEUTSCHE SECURITIES	ILU	ORD	27/10/2004	Β	2	$-9.47$
DEUTSCHE SECURITIES	ILU	ORD	28/10/2004	В	1,000	$-4,750.00$
DEUTSCHE SECURITIES	ILU	ORD	28/10/2004	Β	3,470	$-16,656.00$
DEUTSCHE SECURITIES	ILU	ORD	1/11/2004	В	163	$-779.14$
DEUTSCHE SECURITIES	ILU	ORD	2/11/2004	B	2,581	$-12,233.94$
DEUTSCHE SECURITIES	ILU	ORD	2/11/2004	В	20,843	-99,218.93
DEUTSCHE SECURITIES	ILU	ORD	2/11/2004	B	33,235	$-158,760.27$
DEUTSCHE SECURITIES	ILU	ORD	3/11/2004	B	5,000	$-23,575.00$
DEUTSCHE SECURITIES	ILU	ORD	3/11/2004	B	750	$-3,547.50$
DEUTSCHE SECURITIES	ILU	ORD	3/11/2004	B	31,650	$-150,027.33$
DEUTSCHE SECURITIES	ILU	ORD	4/11/2004	B	2,838	$-13,480.50$
DEUTSCHE SECURITIES	ILU	ORD	4/11/2004	B	20,000 2,100	$-95,290.94$ $-10,038.00$
DEUTSCHE SECURITIES DEUTSCHE SECURITIES	ILU	ORD ILU ORD	4/11/2004 4/11/2004	в B	346	$-1,657.34$
DEUTSCHE SECURITIES	ILU	ORD	4/11/2004	B	20,000	$-96,804.00$
DEUTSCHE SECURITIES	ILU	ORD	5/11/2004	B	53	$-254.93$
DEUTSCHE SECURITIES	ILU	ORD	5/11/2004	B	8,682	-42,797.64
DEUTSCHE SECURITIES	ILU	ORD	5/11/2004	В	10,000	-49,400.00
DEUTSCHE SECURITIES	ILU	ORD	5/11/2004	В	36,926	$-187,650.55$
DEUTSCHE SECURITIES	ILU	ORD	5/11/2004	В	2,792	$-14,343.35$
DEUTSCHE SECURITIES	ILU	ORD	8/11/2004	В	25,847	-136,513.52
DEUTSCHE SECURITIES	ILU	ORD	9/11/2004	Β	2,300	$-12,028.88$
DEUTSCHE SECURITIES	ILU	ORD	9/11/2004	В	11,078	$-58,070.88$
DEUTSCHE SECURITIES	ILU	ORD	10/11/2004	В	32,329	$-166,222.79$
DEUTSCHE SECURITIES	ILU	ORD	10/11/2004	B	5,700	$-29,477.00$
DEUTSCHE SECURITIES	ILU	ORD	10/11/2004	B	5,833	$-30,506.59$
DEUTSCHE SECURITIES	ILU	ORD	11/11/2004	в	19,840	$-104,160.00$
DEUTSCHE SECURITIES	ILU	ORD	11/11/2004	в	5,500	$-28,875.00$
DEUTSCHE SECURITIES	ILU	ORD	12/11/2004	в	2,265	$-11,891.25$
DEUTSCHE SECURITIES	ILU	ORD	12/11/2004	B	2,647	$-13,896.75$
DEUTSCHE SECURITIES	ILU	ORD	12/11/2004	B	4,000	$-21,320.00$

Group Name			ASX Stock Trade Date Trans Type		Trans, Number Consideration
DEUTSCHE SECURITIES	ILU	ORD	15/11/2004	B	3,267	$-17,340.10$
DEUTSCHE SECURITIES	ILU	ORD	16/11/2004	В	4,733	$-25,024.90$
DEUTSCHE SECURITIES	ILU	ORD	16/11/2004	В	5,215	$-27,795.95$
DEUTSCHE SECURITIES	ILU	ORD	17/11/2004	B	11,889	$-62,621.93$
DEUTSCHE SECURITIES	ILU	ORD	17/11/2004	В	2,000	$-10,540.00$
DEUTSCHE SECURITIES	ILU	ORD	17/11/2004	В	1	$-5.29$
DEUTSCHE SECURITIES	ILU	ORD	17/11/2004	В	17,401	$-92,177.94$
DEUTSCHE SECURITIES	ILU	ORD	17/11/2004	В		262,893 -1,397,723.21
DEUTSCHE SECURITIES	ILU	ORD	18/11/2004	Β	974,413	$-3,897,652.00$
DEUTSCHE SECURITIES	ILU	ORD	18/11/2004	В	5,000	$-26,500.00$
DEUTSCHE SECURITIES	ILU	ORD	18/11/2004	B	7,426	$-39,482.06$
DEUTSCHE SECURITIES	ILU	ORD	22/11/2004	В	18,119	$-95,049.47$
DEUTSCHE SECURITIES	ILU	ORD	22/11/2004	В	10,000	$-52,500.00$
DEUTSCHE SECURITIES	ILU	ORD	22/11/2004	В	8,284	$-43,517.28$
DEUTSCHE SECURITIES	ILU	ORD	23/11/2004	B	5,098	$-27,301.03$
DEUTSCHE SECURITIES	ILU	ORD	24/11/2004	B	5,900	$-32,806.00$
DEUTSCHE SECURITIES	ILU	ORD	24/11/2004	B	3,750	$-21,052.50$
DEUTSCHE SECURITIES	ILU	ORD	24/11/2004	B	11,022	$-62,391.13$
DEUTSCHE SECURITIES	ILU	ORD	29/11/2004	B	417	$-2,393.58$
DEUTSCHE SECURITIES	ILU	ORD	30/11/2004	В	6,356	$-37,199.13$
DEUTSCHE SECURITIES	ILU	ORD	1/12/2004	B	117,087	$-691,927.36$
DEUTSCHE SECURITIES	ILU	ORD	1/12/2004	B	2,001	$-11,845.92$
DEUTSCHE SECURITIES	ILU	ORD	2/12/2004	B	17,940	$-106,808.53$
DEUTSCHE SECURITIES	ILU	ORD	2/12/2004	в	4,019	$-23,953.24$
DEUTSCHE SECURITIES	ILU	ORD	3/12/2004	B	6,124	$-36,542.70$
DEUTSCHE SECURITIES	ILU	ORD	6/12/2004	B	14,700	$-88,593.96$
DEUTSCHE SECURITIES	ILU	ORD	7/12/2004	B	6,000	$-36,007.50$
DEUTSCHE SECURITIES	ILU	ORD	7/12/2004	В	5,000	$-30,100.00$
DEUTSCHE SECURITIES	ILU	ORD	8/12/2004	B	55,997	-317,900.57
DEUTSCHE SECURITIES	ILU	ORD	8/12/2004	В	4,002	$-23,131.56$
DEUTSCHE SECURITIES	ILU	ORD	8/12/2004	В	178,000	$-1,032,827.20$
DEUTSCHE SECURITIES	ILU	ORD	9/12/2004	В	1	$-5.60$
DEUTSCHE SECURITIES	ILU	ORD	9/12/2004	B	23,953	$-135,489.61$ $-45,967.11$
DEUTSCHE SECURITIES	ILU ILU	ORD ORD	9/12/2004 9/12/2004	в	8,114 68,000	-385,362.80
DEUTSCHE SECURITIES	ILU	ORD	10/12/2004	В В	2,001	$-11,225.61$
DEUTSCHE SECURITIES DEUTSCHE SECURITIES	ILU	ORD	10/12/2004	в	27,548	-156,679.62
DEUTSCHE SECURITIES	ILU	ORD	10/12/2004	В	2,397	$-13,662.90$
DEUTSCHE SECURITIES	ILU	ORD	13/12/2004	в	11,677	$-66,324.33$
DEUTSCHE SECURITIES	ILU	ORD	13/12/2004	В	10,173	$-57,857.92$
DEUTSCHE SECURITIES	ILU	ORD	13/12/2004	В	13,322	$-75,806.99$
DEUTSCHE SECURITIES	ILU	ORD	14/12/2004	в	8,138	$-46,069.22$
DEUTSCHE SECURITIES	ILU	ORD	14/12/2004	В	10,000	$-56,700.00$
DEUTSCHE SECURITIES	ILU	ORD	15/12/2004	В	32,000	$-180,268.80$
DEUTSCHE SECURITIES	ILU	ORD	15/12/2004	В	21,172	$-119,744.36$
DEUTSCHE SECURITIES	ILU	ORD	15/12/2004	в	15,000	$-85,500.00$
DEUTSCHE SECURITIES	ILU	ORD	16/12/2004	В	5,223	$-29,666.64$
DEUTSCHE SECURITIES	ILU	ORD	16/12/2004	B	8,479	$-48,245.51$
DEUTSCHE SECURITIES	ILU	ORD	16/12/2004	B	2,000	$-11,400.00$
DEUTSCHE SECURITIES	ILU	ORD	16/12/2004	B	1,000	$-5,700.00$
DEUTSCHE SECURITIES	ILU	ORD	17/12/2004	B	15,326	$-87,358.20$
DEUTSCHE SECURITIES	ILU	ORD	17/12/2004	Β	41,500	$-247,190.00$

$\bar{\lambda}$

Group Name					ASX Stock Trade Date Trans Type Trans, Number Consideration
DEUTSCHE SECURITIES	$\blacksquare$	ORD.	17/12/2004	в		$-5.96$
DEUTSCHE SECURITIES	$\blacksquare$	ORD	17/12/2004	В	11,200	$-66,757.60$
DEUTSCHE SECURITIES	8. L L	ORD.	20/12/2004	в	14,200	$-86,381.44$
DEUTSCHE SECURITIES	11. L I	ORD.	20/12/2004	в	60,000	$-367,980.00$
DEUTSCHE SECURITIES	11 U	ORD.	22/12/2004	в	80	$-504.00$
DEUTSCHE SECURITIES	ILU.				Various trades in options over 9,000 shares

$\sim 10^{-1}$