Shares in Iluka slid more than 10 per cent after it locked down its first rare earths offtake deal with an undisclosed global car manufacturer, which is tipped to generate $220 million in revenue.

Shares in Iluka slid more than 10 per cent after it locked down its first rare earths offtake deal with an undisclosed global car manufacturer, which is tipped to generate $220 million in revenue.