Global Lithium Resources has bought IGO’s Nova nickel operation in an effort to accelerate production from its Manna lithium project while lowering development expenses.
The business, through its wholly owned subsidiary GL1 HoldCo No 3 Pty Ltd, has signed a binding share purchase agreement to buy 100% of IGO Nova Pty Ltd, which owns the Nova processing facility and associated infrastructure in Western Australia, for $7 million.
Global Lithium stated that the acquisition has the potential to save significant cost when compared to establishing a new processing plant at its Manna lithium project, while also quickening the company’s path to producing spodumene concentrate.
The business intends to use Nova’s existing crusher facility to handle Manna’s direct shipment ore (DSO). High-grade ore will be transported approximately 170 kilometers by road to Nova, where it will be crushed and sorted before being trucked to Esperance Port, producing early cashflow while the processing plant is converted to produce spodumene concentrate.
Global Lithium will immediately initiate a Manna-Nova integration study, with completion expected this quarter, with concentrate production set to begin from the repurposed plant by mid-2027.
Dr Dianmin Chen, GL1’s managing director, praised the acquisition as an important milestone for the company.
“Leveraging Nova’s existing, high-quality infrastructure has the potential to achieve substantial capital savings and can fast-track Manna’s high-quality lithium product to market,” Chen stated.
“Ultimately, spodumene concentrate output from the converted processing plant is expected by mid-2027, just a year from now, which is critical to capitalising on the forecast rise in demand for lithium offtake.”
For IGO, the transaction represents the sale of an asset that will no longer be key to its portfolio after mining at Nova is completed, as scheduled, in the December 2026 quarter.
Nova is projected to continue generating good cashflow until activities are winding down, with the sale taking place after mining finishes.
Ivan Vella, IGO’s managing director and CEO, stated that repurposing the site’s infrastructure would provide benefits beyond the purchase itself.
“Nova has played a significant role in IGO’s history, and we’re incredibly proud of what our team has achieved over more than 10 years of successful operation,” Vella stated.
“Finding a method to recycle Nova’s important infrastructure is a fantastic conclusion for both our stockholders and the local community, which has supported Nova throughout its history.
“Enabling the development of another critical minerals project here in Western Australia is exactly the kind of outcome we want to see and reflects our commitment to a more sustainable mining industry.”
