18
Jul
03:58
IGO to book impairment for Western Areas projects
Australian miner IGO expects to record a non-cash, pre-tax impairment expense of between AUD 880 million ($600.53m) and AUD 980 million in its financial results for the year ending 30 June 2023, for the assets it acquired from Western Areas (WSA) last year, Kallanish notes.
The impairment relates to the reassessment of the accounting value at the Cosmos and Forrestania nickel projects in Western Australia to reflect higher capital and operating costs,…
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