BUZZ-Australia's IGO rises on ceasing operations at lithium hydroxide plant

Reuters

01-24

BUZZ-Australia's IGO rises on ceasing operations at lithium hydroxide plant

** Shares of IGO Ltd IGO.AX rise 3.8% to A$5.41

** Australian battery metal producer rose as much as 4.6% earlier in the day, posting their strongest trading session since Dec. 10

** IGO and joint venture partner China's Tianqi Lithium 002466.SZ will cease all operations at one of its lithium hydroxide plants at the Kwinana refinery in Western Australia

** Citi says the move is not a surprise and removes an overhang

** Investor sentiment towards Kwinana is weak — Citi

** IGO up 9.2% YTD as of last close

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com))

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