Chariot Nigeria lithium mining,Chariot Corporation, a Perth-based lithium explorer, is making a bold move into the Nigerian lithium market. The company has entered into a binding agreement with Continental Lithium to begin small-scale mining across four of its highly prospective Nigerian projects. This agreement marks an exciting phase for the company, as it aims to transform artisanal lithium mining into a formalized operation, with the potential to generate early cash flows.
A Strategic Partnership for Nigerian Lithium Mining
Chariot Nigeria lithium mining,Chariot Corporation and Continental Lithium have teamed up through the joint venture, C&C Minerals Limited, where Chariot holds a 66.67% stake. Continental Lithium, with its local expertise, will handle on-ground mining and logistics, while Chariot will take responsibility for project financing, securing offtake agreements, and ensuring regulatory compliance.
The Nigerian lithium assets, spread across 254 square kilometers in Oyo and Kwara states, include four key projects: Fonlo, Gbugbu, Iganna, and Saki. These areas are rich in artisanal mining activity and offer significant potential for lithium production.
A Three-Phase Plan to Drive Growth
Chariot has developed a three-phase plan to scale its Nigerian lithium operations:
- Mapping and Sampling: The first phase involves defining local JORC-compliant resources around active artisanal sites, focusing on areas like Fonlo and Iganna for immediate mining potential.
- Metallurgical Testwork: The second phase will confirm processing methods, including gravity or flotation techniques, and assess potential by-products like tantalum and tin.
- Commercialization: The final phase will analyze various options for full-scale commercialization, such as toll-treatment or using modular on-site units for processing.
By minimizing initial capital expenditure and leveraging existing infrastructure, Chariot aims to maximize revenues and avoid excessive upfront costs.
Exploration and Growth Prospects
Alongside small-scale mining, Chariot is also aggressively exploring further lithium deposits within the same region. With modern geophysics and systematic drilling, the company hopes to discover tier-one lithium resources, which could further strengthen its position in the growing African lithium market.
As one of the first publicly listed players in Nigeria’s lithium sector, Chariot’s move to establish small-scale operations sets it up for a promising future. The company is positioning itself to benefit from a booming demand for lithium, driven by the electric vehicle (EV) industry, and is well-positioned to attract buyers in the rapidly developing Africa-China lithium supply corridor.
