IGO reaffirmed current lithium production guidance

Published: Nov 1, 2024 19:28

Source: SMM

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The CEO Ivan Vella affirmed current production guidance, citing stable project performance with no plans to adjust forecasts.

On 27 October, IGO Limited reported robust lithium production at the Greenbushes mine and Kwinana refinery in Australia. In the September quarter, Greenbushes achieved a 22% increase in spodumene production, reaching 406,000 tonnes, driven by higher throughput and improved feed grade. Sales volume fell by 26% quarter-on-quarter to 392,000 tonnes. The average realised price for spodumene concentrate was US$872 per tonne (FOB Australia) while cash costs decreased to A$277 per tonne, an 18% reduction.

At Kwinana, lithium hydroxide production rose by 13% to 1,502 tonnes as operational efficiencies improved. A major planned shutdown in October is expected to lift production rates from December 2024 onward.

Greenbushes has set its production guidance at 1.35-1.55 million tonnes for FY2025. The CEO Ivan Vella affirmed current production guidance, citing stable project performance with no plans to adjust forecasts. On Kwinana, he noted that profitability remains challenging under low lithium prices, but the team is focused on achieving nameplate capacity.

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