IGO LIMITED — Major Shareholding Notification 2011

Dec 15, 2011

Form 603 Corporations Act 2001 Section 671B

Notice of Initial Substantial Holder

To: Independence Group NL

ACN/ARSN:

1. Details of substantial holder (s)

Name: FMR LLC and FIL Limited (FIL) ACN/ARSN (if applicable)

The holder became a substantial holder on

14 December 2011

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class ofSecurities (4)	Numberofsecurities	Person’svotes (5)	Voting power(6)
Ordinary shares	10,425,388	10,425,388	5.14%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities
FMR LLC & FIL	Parent companies of a fund management group with power to exercise control over disposal of the securities	10,425,388

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Number of securities
FMR LLC & FIL	Various Custodians	FID FDS- AUSTRALIA POOL	1,028,369
FMR LLC & FIL	Various Custodians	FIL ACTIVE AUSTRALIAN EQUITY	1,284,546
FMR LLC & FIL	Various Custodians	AUSTRALIANSUPER PTY LTD	2,201,336
FMR LLC & FIL	Various Custodians	BARCLAYSAUSTRALIA FUND	33,794
FMR LLC & FIL	Various Custodians	FID AUSTRALIASMALLCAP PLT FD	3,199
FMR LLC & FIL	Various Custodians	MLCINVESTMENTSLIMITED	547,617
FMR LLC & FIL	Various Custodians	FIREFLY	117,731
FMR LLC & FIL	Various Custodians	FUND 232	849,208

FMR LLC & FIL	Various Custodians	COLONIAL FIRSTSTATE AUSF 24	351,419
FMR LLC & FIL	Various Custodians	STATESUPER FINANCIALSERVICES	421,802
FMR LLC & FIL	Various Custodians	FIDELITY AUSTRALIAN EQFUND	3,276,202
FMR LLC & FIL	Various Custodians	RIOTINTO STAFFSUPER FUND	310,165
	TOTAL	10,425,388	5.14%

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)	Class and number of securities ordinary shares
		Cash/non-cash AUD
FMR LLC & FIL	16 August 2011	5.78	18,141
FMR LLC & FIL	24 August 2011	5.65	26,780
FMR LLC & FIL	15 September 2011	4.77	213,722
FMR LLC & FIL	16 September 2011	4.91	12,026
FMR LLC & FIL	19 September 2011	4.85	20,013
FMR LLC & FIL	19 September 2011	4.85	350,000
FMR LLC & FIL	20 September 2011	4.82	148,709
FMR LLC & FIL	21 September 2011	4.89	99,140
FMR LLC & FIL	27 September 2011	4.34	183,300
FMR LLC & FIL	28 September 2011	4.48	60,000
FMR LLC & FIL	24 November 2011	4.23	44,798
FMR LLC & FIL	14 December 2011	4.00	248,501
FMR LLC & FIL	14 December 2011	4.00	4,062
FMR LLC & FIL	14 December 2011	4.00	52,663
FMR LLC & FIL	14 December 2011	4.00	465,414
FMR LLC & FIL	14 December 2011	4.00	157,838
FMR LLC & FIL	14 December 2011	4.00	194,939
FMR LLC & FIL	14 December 2011	4.00	46,865
FMR LLC & FIL	14 December 2011	4.00	129,203
FMR LLC & FIL	14 December 2011	4.00	87,108
FMR LLC & FIL	14 December 2011	4.00	43,898
FMR LLC & FIL	14 December 2011	4.00	69,509

Please note that the trades shown in bold in the above table are dispositions of shares.

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are all follows:

Name and ACN/ARSN (ifapplicable) FMR LLC	Nature of association
	FMR LLC is a Delaware limited liability company with its principal place of business at 82 Devonshire Street, Boston, Massachusetts. Fidelity Management & Research Company (FMR Co.), Fidelity Management Trust Company (FMTC) andPyramis Global AdvisorsLLC (PGALLC) are

wholly-owned subsidiaries of FMR LLC and under the common control of FMR LLC. Each may be considered a related body corporate and hence an ‘associate’ of FMR LLC, as such term is used in the Corporations Law 2001. FMR Co. is advisor to registered holders named in Section 4 and has power under its management agreements to dispose of the subject shares. FMR Co. also carries out voting under the written guidelines established by the Boards of Trustees of the Funds which are registered holders. The relevant interests of FMTC and PGALLC consist of the power to dispose of, and may also consist of the power to vote or direct the voting of, the shares of institutional accounts with which they each havemanagement agreements.

FIL

FIL Limited (FIL) is previously known as Fidelity International Limited. FIL may vote or direct the voting of the shares of registered holders named in Section 4 under written guidelines established by the Board of Directors of FIL. FIL and its subsidiary management companies such as Fidelity Investments International (FII) and Fidelity Pensions Management (FPM) have power to dispose of shares of funds of registered holders named in Section 4 and/or of institutional accounts with which the companies have management agreements. FII and FPM are wholly-owned subsidiary of FIL and hence ‘associates’ of FIL as such term is used in the Corporations Law 2001.

7. Addresses

The addresses of the persons named in this form are as follows:

Name	Address
FMR LLC	82 Devonshire Street, Boston, MA 02109
FIL	Pembroke Hall, 42 Crow Lane, Pembroke, Bermuda

Sign Here ______ Dated: 16 December 2011

Claudia Lin

Regulatory Reporting Manager

Duly authorized under Powers of Attorney dated 30 October 2009 by Scott Goebel by and on behalf of FMR LLC, and their respective direct and indirect subsidiaries.

Duly authorized under Powers of Attorney dated 12 July 2010 by Allan Pelvang by and on behalf of FIL Limited and their respective direct and indirect subsidiaries