Nigeria Approves Transfer of Six Lithium Licenses to C&C Minerals
The Mining Cadastre Office of Nigeria has approved the transfer of six lithium licenses from Continental to C&C Minerals, a joint venture between Chariot and Continental. The licenses cover the Fonlo and Gbugbu projects, along with two small-scale mining licenses for the Saki project. Additional approvals for four more licenses are expected soon, which will allow Chariot to complete a 66.67% stake in the Nigerian lithium portfolio. The market prices for lithium have increased significantly since the acquisition agreement was signed in July 2025.

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%.




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