Australia's IGO plunges on flagging refinery plant impairment

IGO

30/07/2025 01:38

** Shares of IGO IGO.AX fall as much as 9.4% to A$4.53, their biggest intraday pct loss since April 7

** The resources co flags "low confidence" in the ability of the Kwinana lithium hydroxide refinery to achieve meaningful improvement

** IGO expects a further impairment charge for the refinery for FY25

** Co posts nearly flat spodumene production for the quarter compared to last quarter

** YTD, shares down 4.1%

($1 = 1.5347 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))