Australian Firm Enters Nigeria’s Lithium Sector with Six Mining Licences
Chariot Resources Limited has announced its entry into Nigeria’s growing lithium sector after securing the acquisition of six mining licences, marking a significant step in the country’s push to attract investment in critical minerals.
The company said approvals granted by Nigeria’s Mining Cadastre Office cover the transfer of the licences to its local subsidiary, C&C Minerals Limited, including four exploration licences and two small-scale mining leases.
The assets span key lithium-rich areas in southwestern Nigeria, including projects in Fonlo, Gbugbu, and Saki, which are believed to hold commercially viable deposits used in battery production and electric vehicle technology.
Chariot is expected to acquire a 66.7% stake in the Nigerian lithium portfolio, while the previous holder, Continental Lithium, will retain the remaining interest.
The company described the approvals as a major regulatory milestone that significantly reduces investment risk and moves it closer to completing the acquisition, which is targeted for May 2026.
Industry analysts say the deal highlights Nigeria’s growing importance in the global lithium supply chain, as demand for the mineral continues to rise due to its role in renewable energy storage and electric vehicles.
The development also underscores a broader trend across Africa, where countries are increasingly positioning themselves as key players in the global energy transition by leveraging untapped reserves of critical minerals.
