Australia's IGO rises on ceasing operations at lithium hydroxide plant

IGO

24/01/2025 24:58

** Shares of IGO Ltd  IGO.AX  rise 3.8% to A$5.41
    ** Australian battery metal producer rose as much as 4.6%
earlier in the day, posting their strongest trading session
since Dec. 10
    ** IGO and joint venture partner China's Tianqi Lithium
 002466.SZ  will cease all operations at one of its lithium
hydroxide plants at the Kwinana refinery in Western Australia
    ** Citi says the move is not a surprise and removes an
overhang
    ** Investor sentiment towards Kwinana is weak — Citi
    ** IGO up 9.2% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com))