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26 Feb

IGO reports lower profit on nickel impairment charges

Australian miner IGO has reported lower net profit in the first half ended 31 December 2023, due to nickel impairment charges, Kallanish notes. The firm says in a statement that its net income fell 26% year-on-year to AUD 454.4 million ($297.86m) in the first half of FY24, from AUD 613.9m a year ago. Revenue declined by 19% to AUD 438.2m. Both Nova and Forrestania operations generated less revenue in the period due to lower realised nickel prices and sales volume…
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