Chariot signs MoU for offtake at Nigerian projects
ASX-listed Chariot Resources has entered into a nonbinding memorandum of understanding (MoU) with Fujian Jinjianqiao New Energy Technology to explore cooperation opportunities.
The collaboration will focus on potential offtake of lithium ores and concentrates from Chariot's Nigerian lithium projects, financing arrangements and development of local lithium processing capacity in Nigeria.
Jinjianqiao's integrated “one-stop” capability across import logistics, processing support, inspection/testing, warehousing and sales, together with strategic cooperation links to downstream processing capacity, aligns with Chariot’s objective to rapidly progress its Nigerian projects toward commercialisation, the company says in a statement.
In addition, the MoU expressly contemplates potential financing mechanisms to support project development and assist in accelerating a pathway toward production.
The MoU contemplates the potential sale and delivery of direct shipping ore (DSO) from the projects to a collection point at Sagamu, Nigeria.
Upon completion of satisfactory due diligence, Jinjianqiao may seek to reach an agreement of terms with Chariot for long-term exclusive offtake of spodumene concentrate (or other lithium-bearing products) involving one of Chariot’s four Nigerian projects.
Jinjianqiao and Chariot have agreed to discuss credit lines and offtake prepayment financing that could support project exploration and development, facilitating expanded production at the Nigerian projects.
The two companies have also agreed to evaluate the development of a lithium processing facility in Nigeria to convert ore into spodumene concentrate.
Jinjianqiao is a China-based lithium trader, with an established Africa-to-China sourcing and distribution network. Jinjianqiao sold about 90 000 t of lithium concentrate and ore in 2025, with volumes expected to double this year.
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