Particulars of the refresh are set to be unveiled on the firm’s annual outcomes on Aug. 29, IGO mentioned, including that modifications within the meantime are anticipated to end in a smaller crew over the approaching months.
“IGO has commenced a evaluation of the scale, construction and functionality of its company and exploration groups,” it mentioned in its quarterly manufacturing report.
As a part of the restructure, IGO will concentrate on maximizing worth from its lithium enterprise together with its Greenbushes lithium mine, which it owns with China’s Tianqi Lithium and Albemarle.
It would push for a greater efficiency at its Kwinana hydroxide plant, for which its practice 1 will endure a serious shutdown within the December quarter for enchancment works, at a value of A$80 million to A$100 million.
It would additionally look to maximise money from its nickel companies that are transitioning to care and upkeep.
The miner mentioned it deliberate to boost manufacturing of lithium uncooked materials spodumene by as a lot as 150,000 tonnes subsequent monetary yr because it set manufacturing steering at 1.35 million to 1.55 million tonnes. It didn’t give steering for lithium hydroxide manufacturing.
IGO’s lithium enterprise is held through a 49% stake in Tianqi Lithium Vitality Australia (TLEA) the place Tianqi Lithium owns 51%. TLEA owns 51% within the Greenbushes Lithium mine with Albemarle proudly owning 49% and TLEA owns 100% of the lithium hydroxide refinery.
($1 = 1.5263 Australian {dollars})
(By Melanie Burton; Modifying by Stephen Coates)