IGO's profit after tax for the first half of FY24 saw a 53% decline to $288.3 million, mainly due to lower net profit from the lithium joint venture and reduced Nova Operation revenue.

The company logged a 19% decrease in revenue to $438.2 million.

The lithium joint venture was impacted by falling spodumene prices and sales volumes. Nova Operation reported a 23% drop in revenue to $281.3 million due to lower nickel prices and sales volumes.

An investment impairment charge of $172 million was incurred for Cosmos' and Forrestania's assets.

IGO declared an interim dividend of 11 cents per share.