IGO Q1 2027 slides: record lithium output offsets refinery losses
IGO Limited reported strong financial results for Q1 fiscal 2027, despite challenges at its lithium refining operations and a strategic shift away from nickel. The company's group underlying EBITDA increased by 49% to A$176 million, driven by a record lithium output at its Greenbushes mine and a 50% reduction in injury rates. The mine achieved a milestone with Nova's final full quarter of production before divestment to Global Lithium Resources.
However, the Kwinana lithium hydroxide refinery continued to report losses, with EBITDA down A$65.4 million. Despite these challenges, IGO maintained a strong balance sheet with net cash of A$376 million, up slightly from the previous quarter.
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