Kwinana Lithium Hydroxide Refinery Update
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| Stock | IGO Ltd (IGO.ASX) |
|---|---|
| Release Time | 24 Jan 2025, 8:46 a.m. |
| Price Sensitive | Yes |
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IGO Announces Kwinana Lithium Hydroxide Refinery Update
Key Points
- IGO and Tianqi Lithium Corporation to cease all works and activities on Lithium Hydroxide Plant 2 (LHP2) at Kwinana
- IGO expects to recognise an additional share of net loss from TLEA in respect of a substantial pre-tax impairment
- Full details of the final impairment value to be provided with 1H25 Financial Results
Full Summary
IGO Ltd has provided an update on the Kwinana Lithium Hydroxide Refinery, which is held via its 49% interest in Tianqi Lithium Energy Australia (TLEA). The TLEA shareholders, IGO and Tianqi Lithium Corporation (TLC), have agreed to cease all works and activities on Lithium Hydroxide Plant 2 (LHP2) at Kwinana. IGO is completing its impairment testing process with respect of the Kwinana Refinery and expects to recognise an additional share of net loss from TLEA in respect of a substantial pre-tax impairment in its financial results for the half year ended 31 December 2024. IGO will provide full details of the final impairment value when it announces its 1H25 Financial Results on 20 February 2025.
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