2336 GMT - IGO and Tianqi Lithium recently agreed to stop work on a second lithium hydroxide plant at the Kwinana refinery in Australia. Jefferies thinks the first processing unit will also be mothballed over the next 12 months. The bank assumes the full carrying value of Kwinana at A$1.29 billion. "On current market prices and at current throughput rates we do not see Train I as economically viable on a standalone basis," analyst Mitch Ryan says. "As such we assume that both Trains will be placed into care and maintenance in the coming 12 months." Jefferies estimates a full writedown of IGO's share in Kwinana at A$640 million, which it describes as conservative. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 30, 2025 18:36 ET (23:36 GMT)
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