Australian Firm Gets 6 Lithium Mining Licenses in Nigeria

Nigeria's mining regulator just gave the green light to an Australian company to explore and mine lithium, a critical mineral powering the world's shift to clean energy.

Chariot Resources Limited received approval from Nigeria's Mining Cadastre Office to transfer six licenses to its Nigerian subsidiary, C&C Minerals Limited. The licenses include four exploration permits and two small-scale mining licenses covering projects in Kwara and Oyo states.

This marks the first time an Australian Stock Exchange-listed lithium company has entered Nigeria's mining sector. Executive Chairman Shanthar Pathmanathan called it "monumental for the company and indeed the global lithium sector."

Nigeria sits on significant lithium deposits that remain almost entirely undrilled, even as some sites already produce spodumene, a valuable lithium-bearing mineral, for the Chinese market. Recent laboratory analysis from the University of British Columbia confirmed high-grade lithium at the company's project sites, with lithium oxide grades ranging from 2.66 percent to 5.96 percent.

The timing couldn't be better. Global demand for lithium is soaring as electric vehicles and renewable energy storage become mainstream technologies. Nigeria, long dependent on oil revenue, is actively working to diversify its economy by developing its mineral resources.

The Ripple Effect

This deal could create a blueprint for responsible mining in Nigeria. Chariot plans to use modern, systematic exploration methods to generate high-quality technical data across its portfolio.

The company is already negotiating with potential partners to accelerate drilling and restart small-scale mining activities. Chariot holds a 66.6 percent stake in C&C Minerals, with plans to complete full acquisition by May 2026.

For Nigeria, this represents a chance to unlock long-term economic value while contributing to the global clean energy transition. Lithium plays a critical role in batteries that power everything from smartphones to electric cars to grid-scale energy storage.

Legal adviser Ajibola Asolo from Nigerian law firm Aluko and Oyebode emphasized that Chariot's expertise in critical minerals will improve resource development in the country. Fellow partner Cephas Caleb noted that unlocking Nigeria's lithium resources is a strategic priority.

Four additional licenses at the Saki and Iganna projects are still awaiting final approval, which would further expand Chariot's footprint in the region.

With professional mining expertise, modern exploration methods, and proper regulatory oversight, Nigeria's lithium sector could deliver prosperity while powering the world's renewable future.