In what is likely the first entry of an ASX-listed lithium company into Nigeria’s lithium sector, Australian miner Chariot Resources Limited has announced a lithium-rich mineral discovery in Nigeria following the approval of six mining licences by the Nigerian Mining Cadastre Office (MCO).
The entry of Chariot marks a significant step for Nigeria’s critical minerals sector which is dominated by Chinese investors and is already supplying spodumene to China.
Nigeria is known to have large deposits of high-value spodumene at several sites, with lithium oxide grades from 2.66% to 5.96%.
Spodumene is considered one of the most commercially viable lithium-bearing minerals due to its relatively straightforward processing compared to more complex alternatives such as lepidolite, which was not detected in any of the samples.
In a statement announcing it’s entry into Nigeria, Chariot said the MCO approved the transfer of a total of six licences — comprising four exploration licences and two small-scale mining licences — from Continental Lithium Limited to C&C Minerals Limited, its Nigerian joint venture entity.
The statement said the licences cover both exploration permits at the Fonlo and Gbugbu projects, as well as small-scale mining interests at the Saki project, effectively consolidating Chariot’s control over key assets in the region.
The company added that four additional licences —three at Saki and one at Iganna (all in Oyo State) —are awaiting final approval from the MCO.
“These approvals are monumental for the Company and indeed the global lithium sector as they signify the first entry of an ASX-listed lithium company into the high-potential lithium sector in Nigeria, which hosts lithium pegmatites that are already producing spodumene for the Chinese market but remain almost entirely undrilled,” says Shanthar Pathmanathan, Executive Chairman & Managing Director of Chariot.
The approvals represent substantial progress toward completing Chariot’s acquisition of a 66.667 percent stake in C&C Minerals, with Continental Lithium retaining the remaining 33.333 percent.
The company described the development as a key regulatory milestone that materially de-risks its Nigerian lithium portfolio acquisition.
Citing independent laboratory analysis conducted by the University of British Columbia confirmed the presence of high-value spodumene across all six sampled sites from the Fonlo and Iganna projects, Chariot said the findings support its plan to advance drill-ready targets and accelerate exploration across its Nigerian portfolio.
The six samples returned lithium oxide grades ranging from 2.66 percent to 5.96 percent, reinforcing expectations of high-grade mineralisation.
Additionally, elevated caesium values were recorded, with pollucite reaching up to 9.5 percent in one Iganna sample.
The company further stated that the mineralogical results substantially de-risk its development pathway and will guide upcoming exploration, fieldwork, and potential small-scale mining assessments as it moves toward phased project development in Nigeria.
