ILUKA RESOURCES LIMITED — Major Shareholding Notification 2005

Nov 7, 2005

LNVESTMENT. MANAGEMENT LTD

Level 30, Aurora Place 88 Phillip Street SYDNEY NSW 2000 Ph: 612 8248-5500 Fax: 612 8248-5555

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facsimile transmittal

To:	Company Announcements	Fax:	02 9241 7620
From:	Errol Martis	Date:	8/11/2005
Re.	Form 603	Pages:	4 (including cover page)
CC:
$M$ accocou

Message:

Please find attached Form 603 being the notice of initial substantial holder.

King/Regards

÷

Anothe Exol Martis

Form 603

Corporations Act 2001 Section 671B Notice of initial substantial holder

To Company Name/Scheme	ILUKA RESOURCES LIMITED (ILU)
ACN/ARSN	34 008 675 018
Details of substantial holder (1) 1.
Name	MIR Investment Management Limited
ACN (if applicable)	47 104 642 613

The holder became a substantial holder on $07 / 11 / 2005$

Details of voting power $\mathbf{z}$

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 (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Persons' votes(5)	Voting power (6)
Ordinary	780.328	.1.780,328	5.06%

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 (7)	Class and number of securities
MIR	MIR has the power to exercise, or control the exercise of, a right to vote attached to the securities	Ordinary - 11,780,328

Details of present registered holders 4.

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
MJR. Those holders listed in An nexture A		Those holders listed in Annexure $\Lambda$	Ordinary - 11,780,328

S. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the 4 months prior to the day that the substantial holder became a substantial holder is as follows:

^ec 8.NOV.2005 TO 092417620 NO.255 P.3/4.03

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
MIR	Acquired relevant interests over time, but the most recent acquisition being Nov 2005	91,650,951		Ordinary - 11,780,328

$6.$ Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable) Nature of association
Not Applicable	Not Applicable

$7.$ Addresses

The addresses of persons named in this form are as follows:

Name	Address
MIR Investment management Limited Level 30, Aurora Place,
	88, Philip Street, Sydney, NSW 2000

Signature

print name

capacity Director

sign here

Brett McElwee

$8111200$ date

61 2 8248 5555

Annexure A

Present registered holders are detailed below:

National Custodian Services JP Morgan Australia Limited State Street Australia Limited UBS Nominees Pty Limited BNP Paribas Securities Services Westpac Custodian Nominees Limited

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