Australian Miner Chariot Resources Announces High-Grade Lithium Discovery in Nigeria After Securing Key Mining Licences
Abuja, Nigeria – April 14, 2026 — In a major boost to Nigeria’s emerging critical minerals sector, Australian lithium explorer Chariot Resources Limited has confirmed the discovery of high-grade lithium-rich minerals following the approval of six mining licences by the Nigerian Mining Cadastre Office (MCO).
The approvals mark a significant milestone as Chariot becomes the first ASX-listed lithium company to enter Nigeria’s promising lithium sector, which already supplies spodumene to the Chinese market but remains largely underexplored.
Chariot Resources announced that the MCO approved the transfer of six licences — four exploration licences and two small-scale mining licences — from Continental Lithium Limited to C&C Minerals Limited, its Nigerian joint venture entity. These licences cover key projects including Fonlo, Gbugbu, and Saki, consolidating the company’s control over strategic assets in Oyo and Kwara states.
Shanthar Pathmanathan, Executive Chairman and Managing Director of Chariot Resources, described the development as “monumental” for both the company and the global lithium sector.
“These approvals 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,” he said.
The move also advances Chariot’s planned acquisition of a 66.667% stake in C&C Minerals, with Continental Lithium retaining the remaining 33.333%. The company views this as a key regulatory milestone that substantially de-risks its Nigerian lithium portfolio.
Strong Laboratory Results Confirm High-Grade Spodumene
Independent analysis by the University of British Columbia on samples from the Fonlo and Iganna projects revealed significant lithium mineralisation. Spodumene — a primary and commercially viable lithium-bearing mineral — accounted for between 28.4% and 75.3% of the crystalline content across the sampled sites.
Lithium oxide (Li₂O) grades ranged from 2.66% to 5.96%, indicating high-grade potential. No lepidolite (a more complex lithium mineral) was detected, which simplifies potential processing.
Additionally, elevated caesium levels were recorded, with pollucite reaching up to 9.5% in one sample from Iganna, pointing to strong lithium-caesium-tantalum (LCT) pegmatite systems.
These results strengthen Chariot’s confidence in advancing drill-ready targets and accelerating exploration across its Nigerian holdings.
Strategic Importance for Nigeria’s Mining Sector
Nigeria has been actively promoting its critical minerals sector, including lithium, to attract foreign investment and diversify its economy beyond oil. The presence of lithium pegmatites in several regions has already drawn interest from international players, with artisanal mining activities reported in parts of the country.
Chariot’s entry is expected to bring modern exploration techniques, potential small-scale mining operations, and eventual large-scale development, which could create jobs and contribute to Nigeria’s goal of becoming a key player in the global battery metals supply chain.
Four additional licences (three at Saki and one at Iganna) are still awaiting final approval from the MCO, according to the company.
Chariot stated that the positive mineralogical results will guide its upcoming fieldwork, exploration programmes, and assessments for phased project development in Nigeria.
This development comes as global demand for lithium continues to rise, driven by the electric vehicle (EV) revolution and renewable energy storage needs. Nigeria’s lithium prospects could position the country as an important alternative source outside the dominant “Lithium Triangle” in South America and established producers like Australia and China.
Time.com.ng will continue to monitor this story as Chariot progresses with its exploration and development plans in Nigeria.