IGO Warns of Potential Losses as Kwinana Lithium Refinery Faces Impairment

Australia’s IGO Ltd. has flagged a potential impairment to its lithium hydroxide division, projecting an additional net loss in its first-half results for the year. The company cited a decline in the value of its Kwinana lithium hydroxide refinery, located in Western Australia, as the primary reason for the expected financial hit. The refinery, a key asset in IGO’s portfolio, has been facing challenges including production delays and the recent slump in lithium prices. These difficulties have compounded the ongoing struggles at the facility, which has been grappling with an oversupply of lithium hydroxide, a crucial component in electric vehicle (EV) batteries.