Chariot Resources signs MoU for Nigerian lithium offtake

ASX-listed Chariot Resources has taken a significant step toward commercialising its Nigerian lithium portfolio after entering a nonbinding memorandum of understanding with China-based Fujian Jinjianqiao New Energy Technology.

The proposed collaboration will explore opportunities across lithium offtake, project financing, and the development of local processing capacity in Nigeria, positioning Chariot to accelerate its pathway to production in one of Africa’s emerging lithium jurisdictions.

Under the memorandum of understanding, the parties will assess the potential sale and delivery of direct shipping ore from Chariot’s Nigerian projects to a collection point in Sagamu, Nigeria, while also considering longer-term arrangements for spodumene concentrate and other lithium-bearing products.

Chariot said Jinjianqiao’s integrated one-stop capability spanning import logistics, processing support, inspection and testing, warehousing, and sales, together with access to downstream processing capacity, aligns closely with its strategy to rapidly advance its assets toward commercialisation.

The memorandum brings together complementary strengths and creates a framework to progress the Nigerian lithium projects efficiently, it was said in a statement, adding that access to offtake pathways, potential financing solutions and downstream processing expertise could materially shorten the timeline to production.

Following satisfactory due diligence, Jinjianqiao may seek to negotiate long-term exclusive offtake agreements involving one of Chariot’s four Nigerian lithium projects. The memorandum also provides for discussions around credit lines and offtake prepayment financing that could support exploration, development and expanded production across the portfolio.

In addition, the companies have agreed to evaluate the development of a lithium processing facility in Nigeria aimed at upgrading mined ore into spodumene concentrate locally. This would align with Nigeria’s broader ambitions to increase domestic mineral beneficiation and retain more value in-country.

Jinjianqiao is an established China-based lithium trader with a strong Africa-to-China sourcing and distribution network. The company sold approximately 90 000 tonnes of lithium concentrate and ore in 2025, with volumes expected to double in 2026, reflecting rising demand from the global battery and electric vehicle supply chain.

For Chariot, the memorandum represents a strategic opportunity to link Nigerian lithium resources with global markets while unlocking funding and infrastructure pathways that could underpin long-term growth.