IGO (ASX:IGO) said improvements to its Kwinana lithium hydroxide refinery in Western Australia are expected to come online by March 2025 following scheduled maintenance in October, according to a Monday filing with the Australian bourse.
The mining firm owns 49% of Tianqi Lithium Energy Australia, the owner of the facility, the filing said.
It is currently building a lithium hydroxide inventory in the short to medium term, given the prevailing market conditions, the filing added.
Due to low sales and the ramp-up of the lithium hydroxide plant, IGO does not expect Tianqi Lithium Energy Australia to be able to pay a dividend during fiscal 2025, per the filing.
IGO's shares were down almost 4% in recent Monday trade.
Price (AUD): $4.63, Change: $-0.18, Percent Change: -3.65%
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