This week’s Resources Rising Stars column features the story of Fraser Range major player IGO and its views on the direction of the company and the requirements of a future world. Boadicea’s Symons Hill project is IGO’s Nova Mine closest neighbour. IGO has lithium and nickel expansion in its sights.

With its nickel, copper and gold assets ticking over, a A$65 million exploration budget, and around $450 million in cash, managing director Peter Bradford is convinced IGO can be a player in the M&A space.

With its nickel, copper and gold assets ticking over, a A$65 million exploration budget, and around $450 million in cash, managing director Peter Bradford is convinced IGO can be a player in the M&A space this year, with the miner looking at its core metals, a downstream nickel sulphate business, and lithium rare earths opportunities (reports MiningNews).

With no material changes between its unaudited and audited full-year 2019-20 accounts, Bradford focused this morning’s call with analysts on his vision for a future where the “bold, passionate, fearless and fun” team at IGO will play a role as global players in the supplying the metals needed for a decarbonised world that enjoyed lower levels of pollution and cleaner air.

“Our conviction for metals for green energy future remains strong,” he said.

The company, which announced a further 5c dividend this morning, is close to its target of putting $500-600 million on the balance sheet to fund a mix of organic and inorganic growth.

Its focus is on potential acquisitions for the short-term, primarily operating or very advanced assets, and exploration and expansion in the longer term.

IGO’s thinking has evolved on potential investments in the lithium space over the past 2-3 years, initially focused on working out what makes a good project and on organic greenfields options.

“We’ve continued that work, because the lithium space has been frothy, so we had no M&A interest, but the tables have turned, it is in the doldrums and assets have been devalued,” Bradford said.
IGO is ready for action because it believes the future for the mineral remains strong.

The past for rare earth elements may follow a similar path.

“Rare earths crop up everywhere, and we know in the Albany Fraser Range there are rare earth deposits held by private companies, and there is the opportunity to explore for rare earths while looking for nickel and copper,” he said.