At a Glance
- Chariot signs nonbinding lithium offtake MoU tied to Nigerian projects and future financing.
- Deal strengthens Nigeria’s role in global lithium supply chains serving EV demand.
- Partnership explores local lithium processing to boost value addition and reduce commercialization risk.
Chariot Resources, an Australia-based mineral exploration company, has taken a strategic step toward commercializing its Nigerian lithium assets, signing a nonbinding memorandum of understanding with China’s Fujian Jinjianqiao New Energy Technology.
The agreement positions Nigeria more firmly within the fast-expanding global lithium supply chain as demand for electric vehicle batteries and energy storage materials continues to surge.
A framework for lithium offtake and financing
The MoU outlines potential cooperation on the offtake of lithium ores and concentrates from Chariot’s portfolio of Nigerian lithium projects. It also explores financing structures aimed at accelerating project development, including credit facilities and prepayment arrangements tied to future production.
Under the proposed framework, Chariot could initially supply direct shipping ore (DSO) from its Nigerian sites, with material delivered to a designated collection point in Sagamu, a logistics hub strategically located near key transport corridors.
Following completion of due diligence, the agreement allows for negotiations toward a long-term, exclusive offtake deal for spodumene concentrate or other lithium-bearing products from one or more of Chariot’s four Nigerian projects.
Strengthening Africa-to-China supply chains
Fujian Jinjianqiao brings an integrated, end-to-end lithium supply platform covering import logistics, inspection and testing, warehousing, processing support, and downstream sales.
The company already operates in Nigeria and plays a growing role in Africa-to-China lithium trade, a corridor that has become increasingly important as battery manufacturers seek diversified, lower-risk sources of critical minerals.
Chariot says the partnership aligns with its strategy to move rapidly from exploration to production, leveraging Jinjianqiao’s logistics and market access to shorten development timelines and reduce commercialization risk.
Local processing on the agenda
Beyond exports, the MoU also contemplates the potential development of a lithium processing facility in Nigeria. Such a plant would convert raw ore into spodumene concentrate, supporting local value addition and aligning with Nigeria’s broader push to capture more economic benefit from its mineral resources.
If realized, local processing could improve margins, create skilled jobs, and position Nigeria as more than just a raw material supplier in the global clean energy transition.
Positioning for the energy transition
Chariot Resources focuses on high-grade, near-surface lithium discoveries across Nigeria and the United States, targeting assets capable of supplying the rapidly growing electric vehicle and renewable energy sectors.
Fujian Jinjianqiao, meanwhile, continues to expand its footprint as a lithium trading and supply chain partner to Asian battery manufacturers.
While the agreement remains nonbinding, it signals growing international interest in Nigeria’s lithium potential and highlights how strategic partnerships are reshaping Africa’s role in the global energy transition.
