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IGO ( (AU:IGO) ) has shared an update.
IGO Limited has announced the cessation of all works and activities on its Lithium Hydroxide Plant 2 at the Kwinana Refinery, in which it holds a 49% interest through Tianqi Lithium Energy Australia. The decision is part of an ongoing impairment testing process, which is expected to lead to a significant pre-tax impairment being recognized in the company’s financial results for the half year ending December 31, 2024. This development could impact IGO’s financial performance and its strategic positioning in the lithium market, with full details of the impairment to be disclosed in February 2025.
More about IGO
IGO Limited operates in the mining and resources industry, focusing primarily on the production and processing of minerals. The company is involved in lithium production through its interest in Tianqi Lithium Energy Australia, reflecting a market focus on battery materials essential for electric vehicles and renewable energy storage.
YTD Price Performance: 4.03%
Average Trading Volume: 540
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.56B
Find detailed analytics on IGO stock on TipRanks’ Stock Analysis page.
