Kwinana Lithium Hydroxide Refinery Impairment
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| Stock | IGO Ltd (IGO.ASX) |
|---|---|
| Release Time | 20 Jan 2025, 8:59 a.m. |
| Price Sensitive | Yes |
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IGO Ltd Announces Kwinana Lithium Hydroxide Refinery Impairment
Key Points
- IGO expects to recognise a substantial pre-tax impairment on its 49% interest in Kwinana Lithium Hydroxide Refinery
- Impairment is being assessed as part of 1H25 Audited Financial Results
- Full details of the final impairment value will be provided on 20 February 2025
Full Summary
IGO Ltd has announced that it expects to recognise an additional share of net loss from its 49% interest in Tianqi Lithium Energy Australia (TLEA), which owns the Kwinana Lithium Hydroxide Refinery, in its financial results for the half year ended 31 December 2024. While the impairment testing process remains incomplete, IGO expects the impairment to be substantial. The company is working to determine the quantum of the impairment and will provide full details of the final impairment value when it announces its 1H25 Financial Results on 20 February 2025. This announcement is in line with accounting standards as IGO prepares to release its 1H25 Audited Financial Results.
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