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Iluka Resources Shares Sink 11% as Mineral Sands Miner’s Volatile Year Continues

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Iluka Resources Shares Sink 11% as Mineral Sands Miner's Volatile

Shares of Iluka Resources fell sharply on Tuesday, dropping 11.44% to close at $7.20, extending a pattern of significant volatility that has characterized the Perth-based mineral sands and rare earths miner throughout 2026, as the company continues navigating weak commodity pricing alongside an ambitious and capital-intensive push into rare earths processing.

A Company in Transition

To own Iluka Resources today, investors need to be comfortable with a miner in transition: using a mature mineral sands base to fund a push into rare earths processing. That dual identity has defined much of the company’s recent volatility, as markets weigh the near-term pressures facing its core business against the longer-term promise of its emerging rare earths operations.

Iluka Resources Limited engages in the exploration, project development, mining, processing, marketing, and rehabilitation of mineral sands in Australia, China, the rest of Asia, Europe, the Americas, and internationally. The company operates through Mineral Sands, Rare Earths, and Idle segments, producing zircon, titanium dioxide products including rutile and synthetic rutile, and ilmenite, alongside activated carbon, gypsum, and iron concentrate products.

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A Difficult Start to the Year

The company’s stock has weathered significant turbulence already in 2026, with one of the steepest single-day moves tied to a major impairment announcement earlier in the year. Iluka Resources recently disclosed that it would book about $565 million in impairment and inventory charges tied to weak mineral sands markets, alongside suspending production at its Cataby mine and synthetic rutile kiln 2 and cutting roles.

That news triggered one of the stock’s sharpest declines in recent memory at the time. Shares of Iluka Resources fell as much as 17.03% on the news, their lowest level since December 19, 2025, marking the stock’s worst session since March 12, 2020.

Weighing Near-Term Pain Against Long-Term Investment

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Analysts assessing the company’s position have continued to frame the central tension facing Iluka as a balance between current operational headwinds and the longer-term strategic bet embedded in its rare earths ambitions. The sharp share price fall suggests the market is now treating execution and balance sheet risk around these projects as more central to the story than before. At the same time, Iluka’s relatively low earnings multiple and cost reductions highlight why some investors still focus on the potential payout if the core business stabilizes and the company’s flagship rare earths refinery beds down.

The impairment and Cataby shutdown crystallize what was already a key short-term risk: weaker mineral sands pricing feeding into lower earnings and more volatile dividends, just as capital spending on its rare earths projects lifts net debt.

The Eneabba Rare Earths Bet

Central to Iluka’s long-term strategy is its investment in a major rare earths processing facility in Western Australia. Iluka is building a rare earths refinery at Eneabba to process Iluka’s existing monazite stockpile as well as feed from third parties and future Iluka projects. The company is also progressing its Balranald project, supported by a larger WIM100 resource estimate and lower unit cash production costs.

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Cost reduction and project ramp-ups have positioned the business for lower 2026 capital outflows and improved cash generation, with key milestones at Balranald and Eneabba on track, while rare earths offtake discussions are progressing, supported by government policy tailwinds.

A Leading Position in Core Markets

Despite the recent volatility, Iluka maintains significant scale and market position within its traditional mineral sands business. The company is the largest global producer of zircon and among the top producers of high-quality titanium dioxide feedstocks, including rutile and synthetic rutile. Iluka operates the world’s largest zircon mine, the low-cost, high-grade Jacinth-Ambrosia mine in South Australia, with Western Australia serving as the processing hub for its Australian operations.

A Valuable Stake in a Royalty Company

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Beyond its direct mining and processing operations, Iluka also holds a significant financial interest in a separate, complementary business. Iluka holds a 20% stake in Deterra Royalties Limited, the largest ASX-listed resources-focused royalty company — a holding that provides some additional diversification to the company’s broader balance sheet beyond its core mineral sands and rare earths operations.

Recent Financial Performance

The company’s most recent quarterly disclosures showed a mixed picture, with lower revenue and production figures even as major growth projects continued advancing. Iluka Resources’ first-quarter 2026 results saw lower revenue and production, but major minerals and rare earths projects continued to progress, according to commentary from financial analysts tracking the stock.

Valuation Metrics Point to Relative Attractiveness

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Despite the stock’s volatility, several valuation metrics suggest Iluka trades at a discount relative to comparable mining and materials companies on the ASX. Iluka Resources exhibits a price-to-sales ratio which is less than the industry average for other industrial metals and mining stocks listed on the ASX, while also showing an attractive price-to-book ratio relative to sector peers. The company’s dividend yield similarly exceeds the industry average for comparable industrial metals and mining stocks.

A History of Paying Dividends

Iluka has historically maintained a consistent approach to returning capital to shareholders, even amid periods of operational volatility. Iluka Resources historically pays two fully franked shareholder dividends a year, generally distributed in March or April and September or October, with an established dividend reinvestment plan available to eligible shareholders who wish to reinvest their entitlements into additional shares.

With Iluka’s next earnings report scheduled for August 25, investors will be watching closely for updated guidance on both the near-term trajectory of mineral sands pricing and the progress of the company’s capital-intensive rare earths projects at Eneabba and Balranald. Given the stock’s demonstrated pattern of sharp single-day moves tied to project updates, impairment charges, and broader commodity price swings throughout 2026, Iluka’s share price is likely to remain highly sensitive to any further news regarding its core mineral sands operations or the execution timeline of its longer-term rare earths ambitions.

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SNAP waivers in five states blocked by court

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SNAP waivers in five states blocked by court

Judge rules USDA had no authority to grant food restrictions under program.

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Another bird is 'suspected positive' for H-5 flu virus

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Another bird is 'suspected positive' for H-5 flu virus

The third case of bird flu in West Australia is expected to be confirmed in coming days after a migratory seabird was found with symptoms on a beach between Dunsborough and Busselton.

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EES Chaos: Europe’s Airports Chief Warns of ‘Complete Collapse’

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Passport e-gates across key UK airports experienced a widespread malfunction, triggering chaotic scenes as travellers faced lengthy queues and manual checks by border officers.

The head of Europe’s airports trade body has urged politicians to “stop pretending” that the European Union’s new digital border system is working, warning that the chaos now unfolding at passport control is keeping industry bosses awake at night.

Earlier this year the EU completed the roll-out of its Entry-Exit System (EES), which requires travellers from outside the bloc to register biometric information, including facial scans and fingerprints, when they enter most European countries. That data is then checked each time they cross the borders of the Schengen free-travel zone. For Britain’s roughly four million summer holidaymakers heading to the continent, it has become the most consequential change to cross-Channel travel since Brexit.

While the system has bedded in smoothly in some countries, it has been blamed for significant delays at a number of airports, with some passengers missing flights altogether.

Stefan Schulte, president of ACI Europe and chief executive of the company that owns Frankfurt Airport, did not mince his words at an industry gathering in Prague. Politicians, he said, should “stop pretending that EES is working just fine. It is not.” He added: “Passengers are queueing for hours at peak traffic times and I just do not know how we will be able to cope in the coming weeks with the expected increase in traffic.”

The warning lands at the worst possible moment for the travel industry, with the summer peak now under way and passenger volumes climbing week on week.

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The disruption is no longer hypothetical. Earlier this month, dozens of Ryanair passengers were left stranded in Athens after their flight to London Luton departed without them. Ryanair blamed border delays, while the airport pointed to congestion linked to “additional processing requirements”. Neither party stated directly that EES was the culprit, but the episode fits a now familiar pattern.

In April, passengers due to fly from Milan Bergamo and Milan Linate to Manchester also missed their flights because of problems at passport control. Wizz Air, meanwhile, has gone as far as advising British holidaymakers to arrive at European airports three hours before their return flights to absorb the lengthening queues.

The friction is a direct consequence of the new requirement for most travellers from outside the European Economic Area to register biometric data on entry, a process that takes considerably longer than the old practice of stamping a passport. As Business Matters has reported, the Port of Dover has warned that the EU border system carries lasting “negative impacts” for cross-Channel traffic, and UK officials had already feared port chaos well before the scheme went live.

Schulte is pressing for the system to be made far more flexible. “We urgently need full flexibility for border control authorities to suspend the EES whenever needed to avoid further chaos, along with a rethink of those processes,” he said. “This is about showing respect and decency for those who chose to travel to the EU, and safeguarding our reputation as a welcoming and efficient destination.”

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The European Commission is permitting EES to be suspended in certain circumstances until September. But Schulte told the BBC’s World at One that the decision to suspend rests with individual governments rather than airports, and that queues simply grow longer while those decisions are being weighed. He cautioned that the summer peak runs well beyond early September, after which the industry could be staring at the “complete collapse of the system”.

The official UK government guidance confirms that British travellers should expect biometric checks under the EU’s Entry-Exit System, with the requirements rolling out in phases across member states. The House of Commons Library has set out in detail how EES interacts with the forthcoming travel authorisation scheme, underlining how much remains in flux.

For travellers, part of the frustration is the inconsistency between countries. Earlier this year Greece’s tourism minister, Olga Kefalogianni, said she did not want visitors “burdened” by bureaucratic procedures, and promised British passengers would not face biometric checks when travelling to Greece this summer. The picture was muddied when the Greek Foreign Ministry subsequently disputed that any exemption existed.

There were also reports that Portugal and Italy were weighing exemptions for British nationals at their airports, only for the European Commission to insist no such plans were in place.

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The confusion is unlikely to reassure an industry already braced for a difficult summer, and it comes ahead of a further layer of bureaucracy: from next year, British holidaymakers will also need to pay for an EU visa waiver under the ETIAS scheme. For now, the message from Europe’s airport bosses is blunt. The system, as it stands, is not coping, and pretending otherwise will not make the queues any shorter.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Fortune 500: 5 Ideal Dividend Buys With 2 “Safer” Industry Leaders

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Fortune 500: 5 Ideal Dividend Buys With 2 "Safer" Industry Leaders

This article was written by

Fredrik Arnold is a former quality service analyst. He is now reporting investment ideas with a primary focus on dividend yields by utilizing free cash flow and one-year total returns as trading indicators. He is the leader of the investing group The Dividend Dog Catcher, where he shares a minimum of one new dividend stock idea per week with focus on yield or extraordinary financial circumstances. All ideas are archived and available after weekly announcement. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Business Daily – Founders: Duolingo’s billionaire boss on rejecting Bill Gates

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Business Daily - Founders: Duolingo's billionaire boss on rejecting Bill Gates

Available for over a year

We hear how a childhood in Guatemala, a fascination with computers and a belief that education should be accessible to everyone helped inspire the world’s most popular learning apps. Luis von Ahn tells us how he went from creating CAPTCHA and selling reCAPTCHA to Google, to building Duolingo into a multi-billion-dollar education technology company used by millions around the world.
He reflects on his mother’s sacrifices to fund his education, the lessons he learned as an entrepreneur, and why he struggles with conflict in his life as a tech CEO.

Presenter: Leanna Byrne
Producer: Amber Mehmood

If you’d like to get in touch with the team, our email address is businessdaily@bbc.co.uk

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Were Key Clues Missed in Nancy Guthrie’s Ransom Notes? Investigators Still Divided

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Wordle puzzle

Nancy Guthrie has been missing since February, and investigators are still trying to determine whether a series of ransom notes offered real clues or misleading messages.

The case has drawn renewed attention after reports of conflicting ransom notes, including one saying the 84-year-old was alive and another claiming she had died and was “buried with nature.”

On NBC’s “Today,” Savannah Guthrie made an emotional plea for information. “Somebody knows something,” she said. “We are in agony. We cannot be at peace … please do the right thing.”

Which Notes Investigators Believe Are Real

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On “CUOMO,” NewsNation correspondent Brian Entin said investigators believed at least some of the early ransom notes were authentic and taken seriously by both law enforcement and the Guthrie family.

“Those are the ones that I’m told the FBI believes are real, that Savannah Guthrie believes are real,” Entin said, referring to two notes sent to local TV stations shortly after Guthrie went missing.

Entin also pointed to separate emails sent to TMZ founder Harvey Levin from an unknown source claiming to have information about the case in exchange for money. “The FBI took it seriously,” Levin said. “They felt that this person might indeed know.”

Former FBI special agent in charge Andrew Black acknowledged criticism of the early investigation, saying there were “a number of missteps,” while also defending the bureau’s overall approach.

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“I do trust the FBI’s judgment on how to utilize resources,” Black said.

Questioning the Motive Behind the Notes

Entin said he still believes the case fits a kidnapping scenario but questioned whether the person behind the notes acted out of panic or guilt rather than planning. “Does the person really feel bad?” he said, pointing to language in the second note.

Guthrie’s disappearance from her home in the Catalina Foothills near Tucson, Arizona, in early February has now stretched well beyond four months without a confirmed suspect, despite the extensive efforts of investigators and the wide range of leads — from the ransom notes to surveillance footage of a masked individual at her home — that have emerged throughout the case. The conflicting nature of the notes themselves, with one suggesting she remained alive and another claiming she had died, has only deepened the uncertainty surrounding her fate and complicated investigators’ efforts to determine which pieces of evidence reflect genuine knowledge of what happened to her.

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The Ongoing Question of Authenticity

At the center of the renewed scrutiny is a basic but unresolved question: which, if any, of the various ransom communications received by media outlets and family members actually originated from someone with real knowledge of Guthrie’s whereabouts or fate. While the FBI and Savannah Guthrie reportedly believe the earliest two notes sent to local television stations carry some degree of authenticity, the broader pattern of messages — including the more recent, unconfirmed claim that she was “buried with nature” — has left investigators and outside experts divided on how much weight to give the communications overall.

A Family Still Seeking Answers

Savannah Guthrie’s continued public appeals, including her recent comments on “Today,” reflect the family’s ongoing struggle to find closure nearly five months into the investigation. Her description of the family being “in agony” and unable “to be at peace” underscores the emotional toll the prolonged uncertainty has taken, even as investigators continue working through the various leads generated by the ransom notes and other evidence gathered since her mother’s disappearance.

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With investigators continuing to assess the credibility and significance of the various ransom communications received throughout the case, the question of whether key leads were overlooked in the early stages of the investigation remains a point of ongoing scrutiny, even as former officials like Black defend the bureau’s overall handling of its resources. Given the continued disagreement among investigators, family members, and outside experts about which notes deserve serious weight, the path toward determining Nancy Guthrie’s fate appears likely to remain unresolved for the foreseeable future, with the FBI and Pima County Sheriff’s Department continuing to seek public assistance in identifying those responsible for her disappearance.

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Lucid Capital Markets initiates Palmer Square Capital BDC stock at neutral

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Committee approves Locus’ $240m Hillarys apartments

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Committee approves Locus’ $240m Hillarys apartments

A state planning body has approved an apartment plan near Hillarys boat harbour, despite the proposal attracting some community opposition.

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Bank of America cardholders get free July 4 weekend museum admission

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Bank of America cardholders get free July 4 weekend museum admission

FIRST ON FOX: Bank of America is expanding its signature “Museums on Us” program for the July 4th weekend, offering eligible cardholders free admission to 250 museums and cultural institutions nationwide as the U.S. marks its 250th anniversary.

Bank of America, Merrill and Bank of America Private Bank credit and debit cardholders can receive free general admission to 250 cultural and civic institutions on July 4 and July 5 by presenting an eligible card and a government-issued ID, the financial institution said.

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“Visiting one of these museums is an opportunity to celebrate the people, places and institutions that have shaped our country and continue to define our communities,” Meghan Hughes, head of arts and heritage at Bank of America, said in a statement. “As people travel and gather for July 4th weekend, we’re encouraging cardholders to take advantage of Museums on Us and to experience these additional programs celebrating our nation’s history.”

BANK OF AMERICA TO HIRE NEARLY 4,000 SUMMER INTERNS AND CAMPUS RECRUITS

Visitors take advantage of Bank of America’s

Bank of America’s “Museums on Us” program is expanding to 250 cultural institutions nationwide for the July 4th weekend. (Bank of America)

“Museums on Us” typically gives eligible Bank of America, Merrill and Bank of America Private Bank cardholders free general admission during the first full weekend of each month. This July, the bank is expanding the program to 250 participating institutions as part of its broader support for America 250.

Bank of America is also providing grant support to the National Archives in Washington, D.C., allowing the institution to extend its operating hours until 10 p.m. through July 5. The bank said the extended hours are intended to give more visitors the chance to view the Declaration of Independence.

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The company is backing additional America 250 programming in several major markets.

In Boston, Bank of America is supporting free access to the MA250 + Boston Pops Fireworks Spectacular, described as one of the country’s oldest and largest Fourth of July events.

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Bank of America’s expanded

Bank of America’s expanded “Museums on Us” program includes museums, historic sites and cultural institutions across 43 states and 158 cities. (Bank of America)

In Detroit, the bank is supporting The Henry Ford’s Salute to America and the Michigan Science Center’s “Science of Safety” initiative.

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In Miami, the Freedom Tower will join “Museums on Us” and offer free admission throughout the duration of the FIFA World Cup 2026.

Bank of America is also supporting presidential history initiatives, including the Theodore Roosevelt Presidential Library, which is scheduled to open July 4 in Medora, North Dakota. The bank has made a $5 million founding gift to the library, which will focus on Roosevelt’s presidency, conservation and civic responsibility.

The company has also announced support for the Smithsonian’s National Portrait Gallery through an Art Conservation Project grant to assess and conserve 110 presidential portraits and frames.

STANDARD CHARTERED CEO WALKS BACK COMMENTS ABOUT REPLACING ‘LOWER-VALUE HUMAN CAPITAL’ WITH AI

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An attendee views an exhibit at a participating museum. Bank of America cardholders can receive free general admission at eligible institutions on July 4 and July 5.

Bank of America cardholders can receive free general admission at eligible institutions on July 4 and July 5. (Bank of America)

In New York, Bank of America has committed to raising $500,000 and matching those funds for a total of $1 million in support of the Intrepid Museum’s mission of honoring service members.

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The bank has also partnered with Vet Tix to offer thousands of free FIFA World Cup 2026 tickets to veterans, current military members and first responders.

A full list of participating museums is available at BankofAmerica.com/MuseumsonUs.

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B&M relocation in Carmarthen in another ‘sad’ move for town centre

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B&M Bargains is moving to a bigger premises but the move leaves a large unit in the centre of Carmarthen with an uncertain future

B&Q store in Carmarthen.

(Image: Google)

A large retail chain is relocating to a bigger unit on the outskirts of Carmarthen but in doing so will leave behind another empty shop in the town centre.

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B&M Bargains has confirmed it will move from its Hall Street location after 15 years of trading to the former B&Q store just off the A40 heading out of town at a site known as Glanyrafon Road.

The retailer has put several banners emblazoned with the opening date outside the now-empty former B&Q building.

B&Q itself relocated to the Pensarn area of Carmarthen in February and B&M Bargains’ decision to close up shop in the town centre and relocate raises questions over the future of the current Hall Street store once it closes in August.

The unit represents one of Carmarthen town centre’s biggest retail spaces and was previously home to Woolworths for decades.

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After the collapse of Woolworths in early 2009 the space became clothing store Ethel Austin and later homeware shop Life&Style before B&M opened in early 2011 .

It means the store will now be vacant for the first time in 15 years raising concern from business leaders.

Chair of Carmarthen Chamber of Trade and Commerce, Jack Yeates, said he hoped the blow to the town centre would be a short one.

He said: “It’s always sad when businesses decide to move just outside of town.

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“As a chamber we hope that the Hall Street shop isn’t vacant for long and doesn’t join the list of empty properties within town because it is a large space to be left unused.

“If it can be filled quickly and helps pull people into town then all the better.”

B&Q announced last year it was closing its store off the A40 due to the expiry of a lease agreement.

That sparked the move to a smaller premises at Parc Pensarn retail park just over a mile away.

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The new B&Q now occupies a unit formerly occupied by Poundstretcher and Laura Ashley.

Work to prepare for B&M’s move into the former B&Q premises has been ongoing since February and the site is currently fenced off to the public with several banners in place advertising the planned opening.

Addressing its relocation B&M Bargains said in a statement: “B&M Hall Street will be relocating to Glanyrafon Road.

“The new store will be much bigger and better with over 26,957 sq ft of sales space offering an even bigger selection of great bargains from grocery, toiletries, and health and beauty to toys, homeware, and DIY.

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“The store will also boast its own 10,098 sqft garden centre selling hundreds of plant varieties and gardening essentials.

“The current Carmarthen store will shut its tills for the final time on Saturday, August 15, but customers won’t have to wait much longer to get back in store as the new site will open its doors at 8am on Saturday, August 22.”

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