Slide 1: Greenbushes Lithium Operation Site Visit Presentation (ASX Release)
ASX RELEASE 29 JULY 2022 GREENBUSHES LITHIUM OPERATION For personal use only SITE VISIT PRESENTATION IGO Limited (ASX: IGO) (IGO or the Company) is pleased to attach presentation materials which will be used during a site visit to the Greenbushes Lithium Operation (Greenbushes) on Sunday 31 July 202
Slide 2: Greenbushes Lithium Operation Site Visit Presentation
For personal use only Greenbushes Lithium Operation Site Visit Presentation 31 July 2022
Slide 3: Greenbushes – Project Overview
Greenbushes – Project Overview A world-class hard rock lithium project For personal use only Located ~250km from Perth and 90km from the Port of Bunbury Long history of mining with first tin mining commencing in the late 1800s1 First lithium mining commenced in 19831 Established mining operation wit
Slide 4: Greenbushes: A globally significant hard rock lithium resource
Greenbushes A globally significant hard rock lithium resource For personal use only Global Hardrock Lithium Projects1 2.5 Core Lithium World’s largest and highest grade hard rock lithium operation 15 1.32 Sigma 52 1.43 James Bay Nemaska 40 56 2.0 1.40 1.40 Premier African Rio Tinto - 20 Jadar 1.06 M
Slide 5: Greenbushes: A key supplier of spodumene concentrate to global markets
Greenbushes A key supplier of spodumene concentrate to global markets For personal use only Mined lithium output market share, 2021e (%)1 Chengtun Australian hard rock lithium resources are critical Yelonggou 4% AMG Jiangte Mining to global lithium supply 2% 1% Youngy Co 3% Other 7% Yichin TaNb 6% T
Slide 6: Talison Lithium Ownership Structure
Talison Lithium Ownership Structure For personal use only 49% Tianqi Lithium Energy Australia 51% TLEA 51% 49% Windfield 100% Greenbushes Lithium Mine 1. Source: IGO/Tianqi Lithium JV Presentation, released to ASX on 9 December 2020 5
Slide 7: Talison Lithium Board & Governance
Talison Lithium Board & Governance For personal use only Windfield JV Board Decision Making1 Chair Director TLEA appointed ALB appointed Board decisions are made through a simple majority vote (i.e. 50% of the votes cast), with carve-outs for specified matters which require a special majority (2/3
Slide 8: Project Timeline
Project Timeline1 Greenbushes is the longest continuously operated mine in Western Australia For personal use only 1987 1992 2021 Acquired by Hard rock tantalum IGO acquires indirect Sons of Gwalia operations commenced interest in Greenbushes 1886 Tin first discovered at through TLEA JV Greenbushes
Slide 9: Greenbushes Site overview
Greenbushes Site overview1 For personal use only Direct access via sealed South Western Highway Key Infrastructure • Tailings storage • Waste rock dumps • Water supply via rainfall catchment stored on site • Grid power supply • 250 room construction camp • Administration/training/engineering offices
Slide 10: Geology
Geology Greenbushes pegmatite deposit intrudes along a major northwest regional fault zone. Greenbushes Geology1 For personal use only Giant Archean age pegmatite with mineralisation occurring as linear dykes (2km to 3km length) Central Lode Pegmatite • 3.5km strike length running north-south • C1,
Slide 11: Geology: Cross Section C3 Pit
Geology Geology well defined and understood, supported by extensive mining and pit exposures Greenbushes – Cross Section C3 Pit1 For personal use only Pegmatite zone dips 40° grid west Overall thickness of 300m Interpreted to over 600m depth 1. Source: Tianqi Lithium Corporation Global Offering Pros
Slide 12: Resource and Reserve
Resource and Reserve Upgrade in August 2021 delivered step change in MRE & ORE Greenbushes MRE on Mar-2018 and Aug-2021 (100% basis) Greenbushes ORE at Mar-2018 and Aug-2021 (100% basis) For personal use only 31 March 2018 31 August 2021 31 March 2018 31 August 2021 JORC JORC Estimate 6% Li2O 6% Li2
Slide 13: Mining
For personal use only Mining 12
Slide 14: Mining: Simple open pit mining
Mining Simple open pit mining with strong history of 30+ years For personal use only Lithium ore (spodumene) is mined from the fresh, unweathered zones in the pegmatite that are exposed in open pits Mined using drill and blast, hydraulic excavators and haul trucks, with current mining rate of ~4.5Mb
Slide 15: Mining: Open pit to expand to include Kapanga deposit
Mining Open pit to expand to include Kapanga deposit Open Pit Reserve Design1 For personal use only Several cutbacks to eastern and western wall of C1 and C3 pits to expand open pit operation Final pit depth expected to be 455m1 Tender process ongoing to select new mining contractor for expanded ope
Slide 16: Mining: Mine plan includes several cutbacks to incorporate Kapanga
Mining Mine plan includes several cutbacks to incorporate Kapanga For personal use only Greenbushes cross section 12,100mN (mine grid) looking north through the Central Lode and Kapanga deposits1 1. Source: IGO CY21 Ore Reserve and Mineral Resource Statement, released 31 January 2022 15
Slide 17: Indicative Mine Plan
Indicative Mine Plan Mining capacity expanding in response to rising demand Projected Mined Ore Volume & Grade1 For personal use only Mt Grade (%Li2O) 12 3 Assumes CGP3 and CGP4 expansions for LOM average of 9.5Mtpa 10 2.5 8 2 ~21 year mine life 6 1.5 4 1 Average mined grade of 2.0% (0.7% Li2O cutof
Slide 18: Processing
For personal use only Processing 17
Slide 19: Expanding concentrate production capacity to meet demand
Greenbushes1 Expanding concentrate production capacity to meet demand Technical Grade Plant Chemical Grade Plant Chemical Grade Plant Tailings Retreatment Project Chemical Grade Plant For personal use only (TGP) (CGP1) (CGP2) (TRP) (CGP3) Status Construction Producing Producing Producing Ramp Up App
Slide 20: Process Flow Sheet
Process Flow Sheet Chemical Grade Spodumene Concentrate For personal use only 1. Source: Schematic created by IGO using data sourced from Tianqi Lithium Corporation Global Offering Prospectus (Competent Persons Report), Dated 30 June 2022, and; Albemarle Corporation’s Pre-Feasibility Study – Greenbu
Slide 21: Processing capacity expanding sequentially with CGP3 and CGP4
Processing Processing capacity expanding sequentially with CGP3 and CGP4 Tonnes Crushed/Processed1 For personal use only CGP4 Mt CGP3 commissioned 10 commissioned Tailings Retreatment Project 9 8 CGP2 Retreatment of tailings from TSF1 which contains 7 commissioned tails from earlier tantalum ore pro
Slide 22: Indicative Production Forecast
Indicative Production Forecast LOM production plan Lithium Concentrate Production Profile 1 For personal use only Mt 2.5 2 Average 1.5 1 0.5 0 1. Source: Tianqi Lithium Corporation Global Offering Prospectus (Competent Persons Report), Dated 30 June 2022 21
Slide 23: Major Capital Works
For personal use only Major Capital Works 22
Slide 24: Expansions
Expansions Expanding production capacity to meet strong global demand for lithium products For personal use only Spodumene concentrate capacity expansion (Mtpa) (All expansion activity funded internally) Potential Under commissioning Construction 2027 Commissioning expected in Ministerial Approval r
Slide 25: Capital Expenditure
Capital Expenditure Capital investments required to enable expansion of production For personal use only Forecast Greenbushes LOM Capex Summary (A$M) 1 Development – Expansion includes: Development - Expansion 162 • A$115M for expanded tailings storage (TSF4)1 Plant & Equipment - Expansion 1,1852 De
Slide 26: Financial Overview
For personal use only Financial Overview 25
Slide 27: Operating Costs
Operating Costs Capital investments required to enable expansion of production For personal use only Projected LOM Operating Cost Summary1 Mining Costs A$/t Ore 33.07 Unit operating costs increase incrementally over Processing Cost A$/t Ore 25.89 LOM reflective of deeper mining and longer haul cycle
Slide 28: FY22 Scorecard & FY23 Guidance
Greenbushes1 FY22 Scorecard & FY23 Guidance For personal use only Units FY22 Result FY22 Guidance FY23 Guidance Spodumene concentrate produced kt 1,135 1,100 to 1,250 1,350 to 1,450 COGS (excluding royalties)2 A$/t sold 238 225 to 275 225 to 275 Sustaining & Improvement Capex A$M 177 275 to 330 420
Slide 29: Spodumene Offtake
Spodumene Offtake 100% of concentrate production sold under offtake contract to Greenbushes shareholders For personal use only Price set twice annually referencing three price reporting agencies Pricing mechanism set in September 2019 for a period of 3 years. Review expected during 1H231 Jun Quarter
Slide 30: Spodumene Offtake: Revenue price appreciation over FY22
Spodumene Offtake Revenue price has appreciated materially over FY22 For personal use only US$/t FOB 5000 4500 US$4,187 4000 Higher pricing is generating strong uplift in revenue and earnings for Talison 3500 3000 136% 2500 FY22 Financial Results (100% basis)1 • Sales Revenue: A$1,880M US$1,770 2000
Slide 31: Sustainability and People
For personal use only Sustainability and People 30
Slide 32: Decarbonisation
Decarbonisation Several workstreams to reduce emissions For personal use only ~19% of energy consumption generated via renewables in 20221 East Rockingham Waste-To-Energy Facility to provide 23MW at 50% renewable by mid-20231 GHG Review underway to provide data/input to a Rockingham Waste-to-Energy
Slide 33: People & Culture
People & Culture Preparing for a growing workforce For personal use only Talison workforce ~800 employees and contractors1 Voluntary turnover rate: 18.5%1 Gender Diversity: • 25% Female (Talison) 1 • 19% Female (Site)1 Focus on training and development 1. Source: Talison 32
Slide 34: Safety
For personal use only Safety 33
Slide 35: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) (ABN 46 092 786 304). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO For personal use only or as an inducement to make an offer or invitation with
Slide 36: Competent Persons Statement
For personal use only Competent Persons Statement • The information in this presentation that relates to IGO’s Mineral Resources or Ore Reserves is extracted from IGO’s ASX release dated 31 January 2022 titled “Annual Mineral Resource and Ore Reserve Estimates Update – CY21” and is available at http
Slide 37: Making a Difference
For personal use only We believe in a world where people power makes amazing things happen. Where technology opens up. new horizons and clean energy makes the planet a better place for every generation to come. We are bold, passionate, fearless and fun - a smarter, kinder, more innovative company. O