IGO lithium production, sales lift as Kwinana refinery output declines 24%
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The news: IGO has reported an uplift in spodumene production and sales in the December quarter but flagged its Kwinana lithium hydroxide joint venture took a 24% production hit amid a maintenance shutdown between late October and early November.
The numbers: Spodumene production from the Greenbushes mine lifted to 352,000 tonnes in the December quarter from 320,000 tonnes in the preceding quarter, while sales lifted to 328,000 from 301,000.
Realised spodumene price lifted 16% to USD850 ($1,208) per tonne suggesting price growth continues in early 2026. Greenbushes’ EBITDA margin lifted to 64% in the December quarter from 57% in the preceding quarter.
Meanwhile, the Kwinana lithium hydroxide facility saw production decline to 2,120 thousand tonnes, from 2,775 thousand tonnes in the prior quarter, due to maintenance outages. This is equivalent to 35% of nameplate capacity.
Sales revenue from the Kwinana facility lifted 35% to $45 million. Capital investment came in at $19.6 million.
The Nova project saw an 11% increase in nickel production quarter on quarter and a 29% increase in copper production, with underlying EBITDA lifting 70% to $42.4 million.
The context: December quarter production at Greenbushes improved after September quarter production was hit by lower grade ores and weather. Realised prices also lifted 16% as the market improved in late 2025.
The CGP3 spodumene concentrate processing plant at the Greenbushes project produced first ore in December, with IGO hoping to “maximise production from the asset in 2H26”.
However, despite improvements in Kwinana production and lithium hydroxide prices, IGO managing director and chief executive Ivan Vella said the refinery is still considered “a high cost asset with no pathway to appropriate returns”.
The source: ASX
