Iluka (ASX:ILU) share price surged higher on a potential $1bn+ valuation uplift

The Iluka Resources Limited (ASX: ILU) share price is outperforming its peers on Wednesday on talk that that it could unlock $1 billion in extra value.

The Iluka share price surged 4.7% to $6.91 when the S&P/ASX 200 Index (Index:^AXJO) struggled to finish in the black.

The rally in the mineral sands miner also eclipsing other ASX miners. The Rio Tinto Limited (ASX: RIO) share price fell 0.6% to $120.74, Lynas Rare Earths Ltd (ASX: LYC) share price dipped 0.2% to $4.37 and OZ Minerals Limited (ASX: OZL) share price increased 1.2% to $20.46.

Unlocking value in the Iluka share price

The rally in the ILU share price coincided with a note by Goldman Sachs, which quantified the possible upside if Iluka moved ahead to build a processing…