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Nigeria's Mining Cadastre Office has approved the transfer of six lithium licenses to C&C Minerals from Continental, including four exploration licenses for the Fonlo and Gbugbu projects and two small-scale mining licenses for the Saki project. Approval for an additional four licenses is anticipated, enabling Chariot to secure a 66.67% stake in the portfolio.

Following the completion of the documentations, C&C Minerals will initiate priority exploration programs in Fonlo and Gbugbu. Lithium prices have surged from July 2025 to March 2026, with lithium carbonate increasing by 157% and spodumene concentrate by 232%.