IGO Ltd's stock plummeted 5.01% during intraday trading on Wednesday, reflecting investor reaction to operational disruptions at a critical facility.

The sharp decline followed the company's announcement of a fire incident at its chemical grade plant 3 (CGP3) at the Greenbushes lithium operation in Western Australia. The fire has been successfully extinguished with no reported injuries, and operations at the adjacent CGP1 and CGP2 plants were not affected by the incident.

Talison Lithium, the operator of the Greenbushes mine, has initiated an investigation to determine the cause of the fire, assess the extent of the damage, and evaluate the necessary repairs. Despite the disruption, the company maintains that overall production at Greenbushes remains on track to meet its fiscal 2026 guidance of 1.4 million tonnes of spodumene concentrate.