IGO (ASX:IGO) completed the sale of its Forrestania nickel operations assets to Medallion Metals (ASX:MM8) for no cash consideration, according to a Monday filing with the Australian bourse.

The company retains rights to explore, develop, and mine nickel and lithium, while Medallion Metals will provide access and support, the filing said.

Additionally, the company will receive up to a 1.5% net smelter return royalty on future gold production from the Forrestania tenements in Western Australia, with no upfront or deferred payments, per the filing.