Chariot Resources (ASX:CC9) has signed a non-binding memorandum of understanding with China-based Fujian Jinjianqiao New Energy Technology to explore collaboration on its Nigerian lithium projects.
The agreement outlines potential offtake of lithium ores and spodumene concentrate, financing arrangements, and the development of local processing capacity in Nigeria.
Under the MOU, Jinjianqiao may secure long-term, exclusive offtake from one of Chariot’s four Nigerian projects following satisfactory due diligence.
The parties also plan to evaluate a lithium processing facility in Nigeria, aimed at converting ore into concentrate on-site. Jinjianqiao, a leading lithium trader with established Africa-to-China supply chains, marketed approximately 90,000 tonnes of lithium concentrate and ore in 2025, with volumes expected to double in 2026.
The MOU is non-binding and will not lead to any formal agreements until Chariot completes its acquisition of the Nigerian projects, anticipated in early 2026.
Discussions may include credit lines or offtake prepayment financing to support exploration and development, accelerating the path to commercial production.