OWNERSHIP
IGO 100%
LOCATION
The Nova Operation is located in the Fraser Range, approximately 160km east-northeast of Norseman, 360km southeast of Kalgoorlie and 380km from the Port of Esperance in Western Australia.
The Ngadju People are the Traditional Owners of the land.
Background
The Nova deposit was discovered in July 2012, with development of the current operation commencing in January 2015. Following a successful construction and commissioning phase, the operation commenced commercial production in July 2017, and reached its nameplate production rate in the December 2017 quarter.
Production FY24
In FY24, Nova achieved total production of 20,806 tonnes of nickel, 9,922 tonnes of copper, and 735 tonnes of cobalt at a cash cost of A$3.99/lb Ni (payable).
FY25 Guidance
Metal Production
Nickel: 16,000 to 18,000 tonnes
Copper: 6,250 to 7,250 tonnes
Cobalt: 550 to 650 tonnes
Cash Costs (payable)
A$4.80 to A$5.80/lb Ni
IGO’s guidance contains forward-looking statements including, but not limited to, assumptions made for future commodity prices, foreign exchange rates, costs and mine scheduling. Achievement of guidance is dependent on meeting target assumptions. Full year guidance ranges reflect an average of the expected outcome for the year, and Quarter on Quarter results can vary significantly from annual guidance.
Sustainability at Nova
Sustainability is at the core of Nova's operating philosophy. Where possible, our team seek to minimise the impact of our operations on the environment and our local communities.
In FY24, the solar farm expansion atNova reached practical completion.The expanded solar farm consists
of a 10MW solar farm, 10-megawatt/12-megawatt hour battery energystorage system, and synchronous
condensers – complementing theexisting 5.5MW solar farm whichwas completed in 2019.
The expansion has allowed Novato be one of the first miningoperations to achieve ‘engines off’by operating on solar power withoutgenerators for extended periodsduring the day in the spring and
summer.
Nova has also continued withunderground battery electric vehicletrials of the Zero light vehicle anda Volvo battery electric integratedtool carrier; and commissioned aSandvik all-electric blast hole drill.
FAQs
Operations | IGO Limited - Making A Difference. IGO is a leading ASX-listed exploration and mining company focused on discovering, developing and operating high quality assets focused on products critical to enabling clean energy.
Is IGO still in business? ›
IGO is currently developing the Odysseus Underground Mine at the Cosmos Project. Lithium Joint Venture - In 2021, Tianqi Lithium Corporation (51%) and IGO Limited (49%) incorporated a new Joint Venture (JV), with a focus on developing and operating world class lithium assets.
Who owns Tianqi Greenbushes? ›
We are a private company now owned by joint venture partners Tianqi Lithium Corporation / IGO Limited JV (51%) and Albemarle Corporation (49%).
How much did IGO pay for western areas? ›
At a virtual meeting on Wednesday, Western Areas shareholders approved IGO's $3.87 cash per share bid, despite the increased offer still being below the $4.04 to $5.23 range deemed fair by independent expert KPMG.
How much of Greenbushes does IGO own? ›
IGO's Greenbushes interest is held through Tianqi Lithium Energy Australia Pty Ltd (TLEA), the lithium joint venture partnership between Tianqi Lithium Corporation (Tianqi) (51%) and IGO (49%).
Who is the CEO of IGO? ›
Ivan was appointed as Managing Director and Chief Executive Officer of IGO Limited in December 2023. Ivan has worked in the mining industry for 25 years, spending over 20 years with Rio Tinto where he gained experience across various senior operating, commercial and functional roles.
What does IGO Limited do? ›
IGO is a leading ASX-listed exploration and mining company focused on discovering, developing and operating high quality assets focused on products critical to enabling clean energy. IGO owns and operates the Nova nickel-copper-cobalt operation and the Forrestania Nickel operation - both located in Western Australia.
How much lithium does Greenbushes produce? ›
It is the world's largest hard-rock lithium mine, producing approximately 1.95 million tonnes (4.3 billion pounds) of lithium spodumene annually.
What is the biggest lithium mine in China? ›
A lithium mine with nearly one million tons of reserves was newly discovered in Yajiang, Southwest China's Sichuan Province, Xinhua News Agency reported on Thursday, a development which will help raw material supply for China's sprawling electric vehicle sector.
What percentage of lithium mines does China own? ›
It is foolish to think we could ever remove our dependence on China.” China has 8% of the global lithium reserves and 72% of the world's refining capacity as of 2022.
IGO's Managing Director and CEO, Peter Bradford, commented: “The acquisition of Western Areas marks another important milestone for IGO as we continue to grow. Completion of this transaction enhances our position as a leading, independent producer of products critical for a clean energy future.
Who owns the lithium mine in Greenbushes? ›
Greenbushes is 100% owned by Talison Lithium Australia Pty Ltd. Talison Lithium Australia is 51% owned by Tianqi Lithium Energy Australia Pty Ltd (TLEA) which is the holding company for the Tianqi Lithium (51%) and IGO (49%) JV.
Who is the major shareholder of Igo? ›
Shareholders: IGO Limited
| Name | Equities | Valuation |
|---|
| Yandal Investments Pty Ltd 8.597 % | 65,103,153 | 245 M $ |
| FIL Investment Management (Australia) Ltd. 6.413 % | 48,562,344 | 183 M $ |
| T. Rowe Price Associates, Inc. (Investment Management) 4.990 % | 37,787,663 | 142 M $ |
| First Sentier Investors (Australia) IM Ltd. 3.349 % | 25,358,766 | 95 M $ |
1 more rowAustralia-based Pilbara Minerals, which mines and processes lithium, says strong demand supported an average realized price of $4,447 per metric ton for its semiprocessed lithium product in its recently concluded 2023 fiscal year, resulting in a 326 percent increase in statutory profit.
Is IGO a good investment? ›
IGO has a consensus rating of Hold, which is based on 5 buy ratings, 3 hold ratings and 4 sell ratings. The average share price target for IGO is AU$6.10. This is based on 12 Wall Streets Analysts 12-month price targets, issued in the past 3 months. IGO's analyst rating consensus is a Hold.
Who is the owner of Igo travel? ›
Founded in 2009 by long-time travel experts Robert Crankshaw and Ravella Lambert, IGOTravel is now regarded as one of the country's 'Top 5' online travel agencies. We believe that our emphasis on long-lasting client relationships and transparency is the cornerstone of our success today.
How many employees are at IGO? ›
Peer analysis
| Company | Revenue (TTM) | Employees |
|---|
| Nickel Industries Ltd | 2.69bn | -- |
| Sandfire Resources Ltd | 1.40bn | 9.00 |
| IGO Ltd | 841.30m | 244.00 |
| Brickworks Limited | 1.14bn | 1.89k |
2 more rowsOn 31 October 2018, Planetary Resources was acquired by ConsenSys, a blockchain technology company.
