Acquisition of Western Areas Limited
Increases scale and delivers portfolio diversification
Acquisition delivers portfolio diversification and increased near-term nickel production profile
The acquisition of Western Areas will provide
an additional 277kt Ni contained Ore Reserves
to pro forma IGO
IGO's Ore Reserves will increase by ~37% on a
nickel-equivalent basis¹
Reweights IGO's near-term production towards
nickel with the additional production from
Forrestania and Odysseus
71%
100%
Diversification of Reserve base1,2
Lithium Nickel Copper Cobalt
3% 4%
22%
igo
WESTERN AREAS LTD
52%
igo
I
2% 3%
igo
Pro forma IGO
43%
1. Nickel-equivalent basis using commodity prices of: Nickel US$16,955/t, Lithium Spodumene US$730/t, Copper US$7,792/t and Cobalt US$53,462/t; 2. Percentage of Reserves calculated using IGO CY20 Mineral Resource and Ore Reserve Statement (ASX:
17 March 2021) and IGO Global Lithium JV with Tianqi Announcement (ASX: 9 December 2020) and Western Areas September Quarterly Presentation (ASX: 28 October 2021).
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