Industry Revenues:

• Mining: 100% (2025)

TOP 3 Markets:

• Australia: 60%
• China: 25%
• Japan: 10%

IGO Limited is an Australian mining company specializing in the extraction of nickel, copper, and cobalt. The majority of revenues come from mining, particularly through the extraction and sale of these metals. Australia remains the main market for IGO Limited, followed by China and Japan, which are significant buyers of raw materials. These markets are crucial for the company as they have a high demand for the extracted metals used in electric vehicle and battery production.

Main production sites:

1. Nova-Bollinger Mine: Fraser Range, Western Australia
2. Greenbushes Lithium Mine: Western Australia (participation via joint venture)

IGO Limited is an Australian mining company mainly engaged in the production of nickel, copper, and cobalt. The Nova-Bollinger Mine is one of the main sources for these metals and is located in the Fraser Range in Western Australia. In addition, IGO is involved in the Greenbushes Lithium Mine through a joint venture, which is also located in Western Australia and is one of the world's largest lithium mines. These sites are strategically important for the company to meet the demand for battery metals required for the production of electric vehicles and renewable energies.

Revenue Growth: Estimated 10% annually (2025) Investments in Renewable Energies: Increase by 20% (2025)

IGO Limited is pursuing a growth strategy that heavily focuses on diversification and expansion into the renewable energy sector. The company plans to increase its investments in lithium and nickel projects to benefit from the rising demand for battery metals.

In addition, IGO Limited is relying on strategic partnerships and joint ventures to expand its market presence and gain access to new technologies. These partnerships are intended to increase production efficiency and reduce costs.

Another focus is on sustainability. IGO Limited is committed to reducing its CO2 emissions and integrating more environmentally friendly practices into its operations. This is aimed not only at reducing environmental impact but also at enhancing the company's image and attracting new investors.

Commodities/Materials: Nickel, Copper, Cobalt
Import countries: Indonesia, Philippines, Democratic Republic of the Congo

IGO Limited is a significant player in the extraction and processing of nickel, copper, and cobalt. These raw materials are crucial for the production of batteries and other technological applications.

Indonesia and the Philippines are major suppliers of nickel, while the Democratic Republic of the Congo is a significant source of cobalt. These countries offer abundant deposits of these raw materials, which are crucial for IGO Limited's strategic goals in the battery and technology sector.

Market share in nickel production: 10% (estimated for 2025)
EBITDA margin: 45% (2024)
R&D investments: 50 million AUD (2024)

IGO Limited has established itself as a significant player in the nickel production sector in recent years. The estimated market share of 10% in nickel production indicates that the company holds a strong position in this segment. The high EBITDA margin of 45% suggests an efficient cost structure and strong operational performance, providing a significant competitive advantage.

In addition, IGO Limited continuously invests in research and development, with investments of 50 million AUD in 2024. These investments are crucial for achieving technological advancements and further increasing efficiency. By focusing on sustainable practices and innovations, the company can further strengthen its competitive position.

Overall, IGO Limited's competitive advantage is supported by its strong market position, high margins, and continuous investments in innovations. This enables the company to thrive in a volatile commodity market and grow in the long term.

Institutional Investor Share: approximately 60% (estimated for 2025 based on previous trends)

Insider Buys/Sells: No specific data available for 2025

The institutional investor share at IGO Limited typically stands at around 60%, based on historical data and the general interest of institutional investors in commodity companies. These investors appreciate the stability and growth potential that IGO Limited offers through its investments in battery materials.

There is currently no specific information available regarding insider buys or sells in 2025. In the past, such transactions at IGO Limited have been rare and mostly conducted as part of regular compensation programs. However, it is important to regularly check the ASX announcements for up-to-date information.

Market share of IGO Limited: 8% (estimated 2025)

Main competitors and their market shares:

1. BHP Group: 20%
2. Rio Tinto: 18%
3. Fortescue Metals Group: 15%
4. South32: 10%
5. IGO Limited: 8%
6. OZ Minerals: 7%
7. Newcrest Mining: 6%
8. Evolution Mining: 5%
9. Northern Star Resources: 4%
10. Sandfire Resources: 3%

Economic moat of IGO Limited:

IGO Limited has a moderate economic moat, mainly attributed to its strategic positioning in the nickel and lithium production sector. These resources are crucial for battery manufacturing, especially in the electric mobility sector, giving IGO a certain advantage in a growing market.

However, compared to larger competitors like BHP Group and Rio Tinto, which have diversified resource bases and significant capital resources, IGO's economic moat is less pronounced. These companies benefit from economies of scale and a broader global presence, giving them a stronger competitive advantage.

In summary, while IGO Limited has specific strengths in the battery metals sector, its economic moat is less significant compared to industry giants. Larger competitors often have better conditions to face market changes and remain competitive in the long term due to their diversification and size.

Revenue Growth: 18% (2024) EBITDA Margin: 45% (2024) Net Cash Flow from Operating Activities: 1.2 billion AUD (2024)

IGO Limited recorded strong revenue growth of 18% in 2024, attributed to increased demand for battery materials and strategic expansion into the lithium sector. The EBITDA margin of 45% demonstrates high operational efficiency and the company's ability to control costs while increasing its revenue.

The net cash flow from operating activities amounting to 1.2 billion AUD highlights the company's strong liquidity position, providing flexibility for future investments and debt reduction. IGO Limited has also invested in strategic partnerships and joint ventures in recent years to strengthen its market position in renewable energy and battery technologies.

Given these positive financial indicators and strategic focus on high-growth sectors, IGO Limited could present an attractive investment opportunity. However, investors should also consider general market conditions and potential risks in the commodity sector.

Dividend Yield: 3.5% (2025)
Dividend History: Continuous payout over the last 5 years

IGO Limited regularly pays dividends to its shareholders. The dividend yield is currently at 3.5%, indicating a solid payout policy. Over the past five years, the company has consistently paid dividends, indicating a reliable payout.

The stability of dividend payments is supported by strong financial performance and strategic positioning in the commodity sector. IGO Limited benefits from robust demand for its products, especially nickel and lithium, further enhancing its ability to pay dividends.