IGO Q1 Underlying EBITDA Rises 49% to A$176 Million on Higher Nickel Sales

Australian miner IGO Ltd. (IGO.AX) on Thursday reported underlying EBITDA of A$176 million for the first quarter, up 49% from A$117.8 million in the prior quarter, driven by increased nickel sales volumes. Group sales revenue rose 12% to A$158 million from A$141 million, as higher nickel volumes offset lower realized nickel prices and weaker copper sales. IGO's share of profit from Tianqi Lithium Energy Australia fell 5% to A$114 million from A$121 million, weighed by lower sales and prices at Greenbushes. Shares of IGO were up 0.96% to A$5.25 on the ASX.