Approved · Waiver · decided in 27 days, 21 Sept 2026
Resources & MiningWA-60043ACCC register
Global Lithium Resources, via GL1 HoldCo No 3 Pty Ltd, is acquiring IGO Nova Pty Ltd from IGO Limited's subsidiary. This share acquisition in the mining sector allows Global Lithium Resources to repurpose IGO Nova's plant for its Manna Lithium Project. Consideration includes scrip, potentially giving IGO up to 13.3 million shares, or approximately 5% of Global Lithium Resources.
GL1 HoldCo No 3 Pty Ltd, a wholly owned subsidiary of Global Lithium Resources Limited ( GL1 ), is acquiring 100% of the issued share capital in IGO Nova Pty Ltd ( IGO Nova ) from IGO Nova Holdings Pty Ltd, a wholly owned subsidiary of IGO Limited ( IGO ) (the Acquisition ). A portion of the consideration for the Acquisition will be paid by way of scrip, which could see IGO own up to 13,333,333 shares in GL1. GL1 currently has approximately 277 million shares on issue. As such, even if the maximum amount of shares is issued, IGO will not own more than approximately 5% of GL1 immediately following the Acquisition. GL1 (ASX: GL1) is an Australian lithium exploration and development company. It is primarily focused on advancing its 100% owned flagship Manna Lithium Project, located in the Goldfields region of Western Australia. GL1 is headquartered in West Perth, Western Australia. IGO is an Australian mining and exploration company that discovers, develops and produces critical minerals, primarily lithium, nickel, copper and cobalt. IGO Nova is the sole owner of the Nova Operation, an underground nickel, copper and cobalt mine in Western Australia’s Fraser Range. The Nova Operation also comprises a nickel-copper processing plant, a 500-bed operating camp and associated infrastructure (power station, a sealed runway, water treatment plant). The Nova Operation is at the end of its life and mining at the underground mine is expected to conclude by late 2026. Following completion of the acquisition, the plant will be converted to process pegmatite ore mined from GL1’s Manna Lithium Project, avoiding the need for GL1 to build a new facility. The operating camp will provide accommodation for workers at both the Nova Operation and Manna Lithium Project.