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26 Feb

IGO reports lower profit on nickel impairment charges

Australian miner IGO has reported lower profit in the financial first half ended 31 December, 2023, due to nickel impairment charges, Kallanish notes. The firm says in a statement that its net profit 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. The firm’s revenue also declined by 19% to AUD 438.2m from AUD 541.7m, with both the Nova and Forrestania operations generating lower revenue due to lo…
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