BUZZ-Australia's IGO slumps to 4-year low on suspending dividend from lithium JV

Reuters

2024/12/23

** Shares of battery metal producer IGO fall as much as 7.9% to A$4.42, their lowest since Nov. 5, 2020

** Stock on track for its worst trading session since Jan. 31, if current losses hold

** Co says it has suspended annual dividends from its lithium joint venture with China's Tianqi Lithium for an indefinite period amid market downturn

** Says lithium hydroxide inventory has accumulated at Kwinana due to subdued market demand and is expected to continue in the short- to medium-term

** Stock had fallen 47% YTD, as of last close

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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