https://newsletter.en.creamermedia.com
Business|Energy|Refinery|Resources|Operations
Business|Energy|Refinery|Resources|Operations
business|energy|refinery|resources|operations

IGO flags impairment on lithium hydroxide division

Kwinana lithium hydroxide refinery

Kwinana lithium hydroxide refinery

20th January 2025

By: Reuters

  

Font size: - +

Australia's IGO warned of an additional net loss in its first-half results this year on Monday, citing a decline in value of its troubled Kwinana Lithium Hydroxide Refinery, which is grappling with production delays and a lithium price slump.

The Kwinana facility in Western Australia is part of the Tianqi Lithium Energy Australia (TLEA) joint venture between IGO and China's Tianqi Lithium, in which the Australian miner holds 49% and the latter holds a 51% stake.

Lithium hydroxide, the primary product of the refinery, is a key component in electric vehicle batteries.

IGO's expected impairment on its lithium business comes on the heels of previous writedowns on its nickel operations, which have prompted a strategic review to reassess its resources amid a global nickel market oversupply that drove prices down last year.

TLEA is contending with an accumulation of lithium hydroxide inventory at Kwinana due to falling prices and subdued demand for the metal.

IGO stated it is currently assessing the worth of Kwinana, with the final impairment value yet to be determined.

At the same time, Tianqi Lithium confirmed it is in discussions with TLEA's management to verify information.

However, no conclusions have been reached regarding the assumptions and results of the impairment charge, according to a separate statement from the company.

Edited by Reuters

Comments

Latest News

An image of the Gauteng Smart Skills Centre
CHIETA, PG Group launch Gauteng Smart Skills Centre
Updated 3 hours ago By: Tasneem Bulbulia

Showroom

SAJ Electrics
SAJ Electrics

Smart energy storage solutions for efficient, safe, and profitable power.

VISIT SHOWROOM 
Graduate School Of Technology Management (GSTM)
Graduate School Of Technology Management (GSTM)

Advancing leadership in technology, innovation, and project management excellence

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 18 July 2025
Magazine round up | 18 July 2025
18th July 2025
Lanseria to get several major upgrades
Lanseria to get several major upgrades
16th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.146 0.241s - 186pq - 2rq
Subscribe Now