IGO Ltd

IGO: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lithium Market Roars Back to Life After Extended Period of Oversupply

Esther Holloway , Lochlan Halloway

Jan 30, 2026

Business Strategy and Outlook

IGO’s primary asset is a noncontrolling 25% stake in the Greenbushes mine, the world’s largest and lowest-cost hard rock lithium operation. The mine is operated by Talison Lithium, a joint venture between IGO, Albemarle, and effective-controller Tianqi Lithium. IGO is entitled to a dividend from Talison, paid out of free cash flow.

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IGO Ltd

Lithium Market Roars Back to Life After Extended Period of Oversupply

Business Strategy and Outlook

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