IGO (ASX: IGO) banks on lithium business to drive revenue growth.

Wed 06 Dec 23, 11:00 AM | Team Kalkine

Image source: shutterstock

Highlights

IGO Limited (ASX: IGO) is a mining company which is engaged in exploration, development and production of gold, copper, nickel, lithium and other commodities critical to clean energy. The company is also focused on renewable energy generation, electrification of transport and storing energy via its upstream mining and downstream processing assets. In the financial year 2023 (FY23), the company registered record results with increase in underlying EBITDA, NPAT and free cash flow, backed by the firm’s investment in the lithium joint venture, Tianqi Lithium Energy Australian Limited (TLEA).

In FY23, revenue increased by 13.4% YoY to AUD 1,024 million and underlying EBITDA grew by 177.1% YoY to AUD 1,987 million.

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