Australian company IGO released an update on its Cosmos Project, stating that a review that began in mid-2023 is still ongoing.

The project encountered various challenges, causing IGO to switch to an ore trucking operation instead of the previously planned mechanized materials handling system.

The change caused construction on the part of the project to pause, resulting in impacts on some roles, but IGO is working on reassigning roles within the company.

IGO anticipates a potential impairment against Cosmos assets in the first half of FY24.