Iluka says to sell Consolidated Rutile stake

SYDNEY, May 7 (Reuters) - Miner Iluka Resources Ltd (ILU.AX) has received approvals needed to sell its 50.1 percent stake in another miner, Consolidated Rutile (CRT.AX), to Unimin Australia Ltd, Iluka said on Thursday.

Unimin Australia is offering 41 cents per share, increasing to 45 cents if it can buy 90 percent or more of Consolidated.

Iluka, which markets Consolidated's mineral sands products, has already said it will accept the offer.