Cashed-up West Australian lithium miner IGO has rewarded investors with a hefty dividend after its share of earnings from the world’s largest hard rock lithium mine surged. It signalled plans to double down on its onshore battery metal processing.

IGO, which is a joint venture partner with China’s Tianqi in their 51 per cent-stake in the Greenbushes mine, banked $1.1 billion from its cut of the JV, up from $71 million in 2021-22, thanks to higher output and rich spodumene prices.