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Chariot Resources and Shanghai GreatPower plan a lithium deal from Nigeria, pending acquisition and project selection.
Chariot Resources has signed a non-binding MOU with Chinese battery materials firm Shanghai GreatPower to explore a potential offtake deal for up to 200,000 tonnes annually of spodumene concentrate from its Nigerian lithium projects.
The agreement includes options for financing, credit lines, and prepayments, with initial deliveries as direct shipping ore to Sagamu, Nigeria, later transitioning to processed concentrate priced against global benchmarks.
The partners also plan to assess building a sustainable lithium processing facility using electric equipment and solar-plus-storage systems.
The deal hinges on Chariot finalizing its acquisition of Nigerian assets from Continental Lithium Limited, now extended to May 5, 2026, with a $379,195 convertible loan secured.
The MOU grants 90 days of exclusivity if GreatPower selects a project.
The collaboration underscores Nigeria’s rising role in the global lithium supply chain as demand from EV and battery makers grows.
Chariot Resources y Shanghai GreatPower planean un acuerdo de litio con Nigeria, a la espera de la adquisición y la selección del proyecto.