Australia's IGO falls after lowering FY2025 capex forecast for lithium mine

IGO

30/04/2025 04:31

** Shares of miner IGO IGO.AX fall as much as 3.4% to A$3.66, logging their biggest intraday pct loss since April 22

** Stock down 0.5% as at 0317 GMT, in line with losses in mining sub-index .AXMM, which is trading 0.6% lower

** Co lowers capex forecast for Greenbushes lithium mine in Western Australia post review

** Co now expects to spend A$700 million ($447.8 million) to A$800 million, compared to its previous estimate range of A$850 million to A$950 million for fiscal 2025

** Stock on track for third consecutive monthly loss with a decline of 4.8% so far

($1 = 1.5632 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))