Australia's IGO ceases work at impaired Kwinana lithium hydroxide plant (updated)

IGO

23/01/2025 22:28

(Updates with further details in paragraphs 2-3)
       Jan 24 (Reuters) - IGO  IGO.AX  will cease all
activities on one of its lithium hydroxide plants at its Kwinana
refinery in Western Australia, the miner said on Friday, after
previously flagging an impairment.
    The battery metal producer warned of an additional net loss
in its first-half results earlier this week, citing a decline in
value of its troubled Kwinana refinery.
    IGO expects to provide the final figure related to the
impairment value in its first-half results.
    The decision on ceasing work at the plant has also been
agreed to by Kwinana joint venture partners Tianqi Lithium
Energy Australia and Tianqi Lithium Corp  002466.SZ , IGO said.

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Sriraj
Kalluvila and Shailesh Kuber)
 ((Shivangi.Lahiri@thomsonreuters.com;))