Igo Limited · ASX:IGO
Igo — Diggers and Dealers Mining Forum 2023
22 slides from Igo's conference presentation, Aug 9, 2023
Slide 1: ASX Release: Presentation to Diggers and Dealers Mining Forum
ASX RELEASE 9 August 2023 PRESENTATION TO DIGGERS AND DEALERS MINING FORUM IGO Limited (ASX: IGO) (IGO or the Company) is pleased to attach a copy of the presentation provided to the Diggers and Dealers Mining Forum being held in Kalgoorlie this week. IGO’s Acting Chief Executive Officer, Matt Dusci
Slide 2: Diggers and Dealers Mining Forum
Diggers and Dealers Mining Forum IGO Limited Matt Dusci – Acting Chief Executive Officer 9 August 2023 IGO LIMITED IGO LIMITED
Slide 3: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) applications and approvals, construction, financing • Nickel cash costs are reported inclusive of royalties and after (ABN 46 092 786 304). It should not be considered as an offer arrangements and access
Slide 4: Vale – Peter Bradford
Vale – Peter Bradford A visionary leader and friend, who has left an incredible legacy at IGO IGO Limited | 2023 Diggers and Dealers Mining Forum Presentation Page 3
Slide 5: Our Strategy
Our Strategy Aligned to our purpose – Making a Difference Diverse suite of products Made safely, ethically, sustainably and reliably To be a globally Vertically Integrated relevant supplier of Linking upstream and downstream into the supply chain products critical to Net Zero the clean energy Achiev
Slide 6: Who we are
Who we are Diverse, Australia based clean energy metals portfolio with a pipeline of growth Greenbushes Lithium Operation Upstream Nova Operation Forrestania Operation Kwinana Lithium Hydroxide Refinery Downstream IBMF Facility (Study) Cosmos Project Greenbushes Expansions Growth Kwinana Lithium Hyd
Slide 7: FY23 Highlights
FY23 Highlights IGO’s transformation continues Record spodumene production from Greenbushes Record Group Underlying EBITDA and Underlying FCF Nickel production and costs in line with guidance Cosmos project progressed; review underway Advanced our downstream nickel opportunity Delivering on our net
Slide 8: Financial Performance
Financial Performance Record financial performance Yearly underlying EBITDA1 and underlying free cash flow1 (A$M) Quarterly dividend received from TLEA (A$M) Underlying FCF 450 Underlying EBITDA $2,003M 400 350 300 250 200 $423M $717M $334M 150 $321M $460M $474M $1,098M 100 $341M 50 $106M $278M $311
Slide 9: Our Lithium Business
Our Lithium Business Effective interest in Kwinana (49%) and Greenbushes (25%) Tianqi Lithium 49% Energy Australia (TLEA) 100% Global JV (ex China) 51% Kwinana Lithium Hydroxide Refinery 51% VvWindfield Holdings 49% 100% Greenbushes Lithium Operation IGO Limited | 2023 Diggers and Dealers Mining For
Slide 10: Greenbushes Lithium Operation
Greenbushes Lithium Operation A world class lithium operation delivering outstanding financial returns Quarterly Production and Cost of Goods Sold1,2 kt A$/t FY23 production of 1.49Mt set another record, while 450 350 unit COGS of $279/t is industry leading $304 $292 300 400 $263 $254 $253 $242 $235
Slide 11: Greenbushes Lithium Operation: Multiple strategic growth projects
Greenbushes Lithium Operation Multiple strategic growth projects Greenbushes Processing Capacity Expansions1 Processing Capacity Expanding processing capacity to deliver higher production rates 2,500,000 Chemical Grade Plant 4 (520ktpa) 520ktpa (Subject to FID) Improving efficiencies via new Mining
Slide 12: Kwinana Refinery
Kwinana Refinery Performance has been challenging Train 1 Rectification works are ongoing to address challenges to ramp up production rates Targeting ~50% of nameplate capacity by the end of CY23 Train 2 FEED expected to be completed in early CY24, prior to FID IGO Limited | 2023 Diggers and Dealers
Slide 13: Our Nickel Business
Our Nickel Business Building an integrated nickel business Nova Operation Forrestania Cosmos Project Downstream Exploration Production Operation In Development Feasibility study and partnering Ongoing Production process underway High-quality, low-cost Operating underground Project development Assess
Slide 14: Nova
Nova Strong delivery despite challenges during FY23 Nova Quarterly Production & Costs FY23 production delivered just below guidance, Tonnes A$/lb with costs within guidance 7,000 $6.00 • 22,915t nickel $5.30/lb 6,000 $5.00 • $3.54/lb cash costs 5,000 $4.00 $3.79/lb 4,000 $3.14/lb Excellent recovery
Slide 15: Forrestania
Forrestania Solid performance over FY23 Forrestania Quarterly Production & Costs1 Tonnes A$/lb FY23 production and costs delivered within guidance 3,300 $12.00 $10.97/lb • 11,931t nickel $10.27/lb 3,200 $8.70/lb $10.00 • $9.65/lb cash costs $8.67/lb 3,100 $8.00 3,000 $6.00 Continued focus on driving
Slide 16: Cosmos
Cosmos Project development progressing | Project review underway Project development has progressed over FY23 • Processing plant construction >85% complete • Shaft and key shaft infrastructure >85% complete • Paste fill plant completed, commissioned and handed over • Underground chambers for materia
Slide 17: Western Areas Impairment
Western Areas Impairment Non-cash impairment to be recorded in upcoming FY23 results Pre-tax impairment expected to be between $880M and $980M Impairment reflects multiple challenges to capital and operating costs, mining conditions and schedule IGO is focused on delivering optimum value from Cosmos
Slide 18: Integrated Battery Materials Facility
Integrated Battery Materials Facility The next phase of our downstream strategy Proposed IBMF will convert nickel sulphide concentrates into cathode precursor for the battery industry in partnership with Wyloo Land allocation at Kwinana was a first step toward an integrated cathode precursor facilit
Slide 19: Exploration
Exploration Seeking to unlock value through discovery Extensive portfolio of high-quality exploration projects Nova, Cosmos & Forrestania (Brownfield) Nickel Fraser Range Project Targeting magmatic and komatiitic nickel sulphide deposits Kimberley Project Irindina Project Copper Paterson Project Tar
Slide 20: Sustainability
Sustainability Retaining our focus on building a sustainable business NOVA SOLAR FARM Dow Jones Sustainability Index – Australia Dow Jones Sustainability Index – Asia Pacific Expanded solar farm and 10MWh battery storage system will significantly reduce emissions “Engines-off” operations achievable
Slide 21: Summary
Summary Continuing to progress our focus on clean energy metals Uniquely positioned in the battery materials supply chain Diversity of commodities and integration both upstream and downstream Delivered record financial results with a strong balance sheet Focused on delivery of growth and value withi
Slide 22: Making a Difference
Making a We believe in a world where people power makes How? Developments in battery storage technology amazing things happen. are enabling the full potential of renewable energy to be realised, by allowing energy produced from the Where technology opens up new horizons and clean sun, wind and other