HFW advises Global Lithium on its proposed acquisition of the Nova Nickel Operation in Western Australia

Global sector-focused law firm HFW has advised Global Lithium Resources Limited (ASX:GL1), a diversified West Australian lithium exploration and development company, on its execution of a binding agreement to acquire the Nova Nickel Operation from IGO Limited (ASX:IGO).

This transformative acquisition has the potential to save GL1 substantial capital expenditure compared to a greenfield processing plant build at its Manna Lithium Project and accelerate GL1’s path to spodumene concentrate production.

Completion of the transaction remains subject to GL1 obtaining ACCC approval under Australia’s new mandatory merger control regime and the cessation of IGO’s mining operations at Nova.

In relation to the transaction, GL1 Managing Director Dr Dianmin Chen said: “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.”

HFW’s deal team working on the transaction is led by Corporate and Commercial Partner Bryn Davis, assisted by Partner Simon Billing, Legal Director Lili Pan, and Associate Darcy Gordon.

HFW will continue to assist the GL1 team through to completion, which is anticipated to occur in the December 2026 quarter.

Bryn Davis: “It has been a pleasure to work with the GL1 team, and we look forward to assisting them through to completion of this transformative acquisition.”