IGO Restructures to Boost Lithium Hydroxide Production, Eyes Senior Management Reduction

Published: Jul 31, 2024 14:10

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Australian Nickel and Lithium Producer IGO to Focus on Boosting Lithium Hydroxide Production" According to foreign media reports on July 29, Australian nickel and lithium producer IGO announced on Tuesday that the company would reduce its senior management team amid a write-down of its nickel assets. CEO Ivan Vela will lead the company's restructuring efforts, with a focus on enhancing lithium hydroxide production. More detailed plans will be disclosed in the company's annual results report on August 29. Meanwhile, the company expects the restructuring to result in a smaller team size over the coming months. As part of the reorganization, IGO will strive to maximize the value of its lithium business. The company plans to increase spodumene production to 150,000 tonnes in the next financial year and has set production guidance within the range of 1.35 million to 1.55 million tonnes. Currently, the company has not provided specific guidance on lithium hydroxide production.

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