By Rhiannon Hoyle
Lithium and nickel producer IGO Ltd. on Tuesday reported a jump in first-half net profit to a record high, reflecting an increased share of earnings from a joint venture with Tianqi Lithium Corp. and record production from the Greenbushes operation.
IGO said it made a net profit of 591.0 million Australian dollars (US$417 million) in the six months through December, up from A$90.7 million in the same period a year earlier.
The miner said it would pay an interim dividend of 14 Australian cents a share, up from 5 cents a year ago.
"We are delighted to report a highly successful and profitable half-year result, with the strength of our lithium business helping drive record earnings, record net profit and declaration of a record interim dividend," said Acting Chief Executive Matt Dusci.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
01-30-23 1636ET