Chariot Resources signs MoU with Shanghai GreatPower to explore Nigerian lithium offtake, processing, renewable energy integration, and broader ESG-focused collaboration.
Chariot Resources has entered into a non-binding memorandum of understanding (MoU) with Shanghai GreatPower, marking a significant step toward potential cooperation aimed at strengthening and expanding the global lithium supply chain. The agreement outlines a framework under which both companies will explore multiple avenues of collaboration, with a particular focus on advancing lithium production and downstream integration from Chariot’s Nigerian portfolio.
Under the MoU, GreatPower would have the option to purchase up to 200,000 tonnes per annum of spodumene concentrate from one of Chariot’s four lithium projects located in Nigeria. The proposed offtake arrangement is designed to support GreatPower’s growing demand for high-quality battery raw materials while providing Chariot with a pathway toward commercialisation. In addition to spodumene concentrate, the agreement also considers the possible sale and delivery of direct shipping ore (DSO), which would be transported to a central collection point in Sagamu, Nigeria, enhancing logistical efficiency.
Any future offtake pricing contemplated under the MoU would be benchmarked against internationally recognised lithium concentrate prices, specifically linked to spodumene grades ranging between 5.5% and 6% lithium oxide (Li2O). However, Chariot has emphasised that meaningful production volumes will only be achievable after substantial technical and regulatory milestones are met.
To support the objectives of the MoU, Chariot will need to complete further exploration programs to define a resource estimate compliant with JORC standards. In addition, metallurgical test work, technical and economic studies, assessments of toll-treatment opportunities, and detailed ore transportation logistics will be required. Securing all relevant environmental and operating permits will also be a critical step before any binding agreements can be finalised.
Beyond raw material supply, the MoU envisages a broader strategic partnership. Both parties have agreed to jointly evaluate the feasibility, design, construction, and operation of a lithium processing facility in Nigeria. Such a plant would aim to upgrade run-of-mine ore directly into spodumene concentrate on site, potentially reducing costs and improving value capture within the country.
The collaboration may also extend to the adoption of GreatPower’s electric mining trucks and renewable energy technologies across Chariot’s Nigerian operations. This includes the potential deployment of photovoltaic solar microgrids combined with battery storage systems, aligning the project with global environmental, social, and governance (ESG) standards.
As part of the process, GreatPower will conduct comprehensive due diligence on Chariot’s Nigerian assets. Successful completion of this review will be a prerequisite for any binding offtake or financing arrangements. GreatPower Chairman Aaron Cao described Chariot’s assets as having the potential to develop into a world-class hard-rock lithium resource, noting that the partnership aligns with GreatPower’s strategy of securing high-quality upstream supply globally.
Chariot Managing Director Shanthar Pathmanathan highlighted that, together with its Nigerian partner Continental Lithium, the company is well positioned as the first publicly listed lithium explorer operating in Nigeria. He added that GreatPower’s involvement validates Chariot’s strategy and could provide both the technical expertise and funding needed to unlock the full value of its assets.
Chariot Resources remains focused on discovering and developing lithium projects in Nigeria and the United States, positioning itself to benefit from the accelerating global demand for battery minerals.
