Nigeria has recorded another milestone in its growing lithium mining industry following fresh approvals granted by the Mining Cadastre Office (MCO) to support Chariot Corporation’s planned acquisition of an 11-mineral-title portfolio from Continental Lithium Limited.
The latest approvals are expected to move the transaction closer to completion while boosting investor confidence in Nigeria’s rapidly expanding critical minerals sector.
Lithium has become one of the world’s most sought-after minerals because of its importance in the production of electric vehicle batteries, renewable energy storage systems, smartphones, artificial intelligence technologies and advanced defence equipment.
As global demand continues to rise, Nigeria is increasingly attracting the attention of international mining investors seeking reliable sources of the strategic mineral.
According to Chariot Corporation, the Mining Cadastre Office has approved the transfer of three exploration licences—EL 38148, EL 67480 and EL 68365—from Continental Lithium Limited to its Nigerian subsidiary, C&C Minerals Limited, subject to the payment of the required statutory fees.
The approvals add to three exploration licences that had already been transferred, including Exploration Licence EL 38574, which received approval in March 2026, bringing the acquisition process closer to completion.
In another development, the Ministry of Solid Minerals Development has accepted applications to convert three Small Scale Mining Leases into full mining leases.
Once all regulatory requirements are met, the mining leases will provide the legal authority for commercial extraction activities after environmental assessments, technical evaluations, financing and other statutory conditions have been completed.
The Mining Cadastre Office also approved the final two-year renewal of Exploration Licence EL 35506 located in Kaiama Local Government Area of Kwara State, extending its validity from October 15, 2026.
To support the ongoing regulatory process, Chariot Corporation increased its convertible shareholder loan to $879,195. The additional funding will be used to cover licence renewals, transfers, mining lease conversions and other statutory obligations across its Nigerian mineral assets.
The latest approvals come as the Federal Government continues to implement reforms aimed at positioning Nigeria as a major supplier of critical minerals while encouraging local processing and value addition instead of exporting raw mineral resources.
Growing international demand for lithium, driven by the expansion of electric vehicle production, battery manufacturing, clean energy technologies and advanced industrial applications, has further strengthened interest in Nigeria’s mining sector.
Although Chariot’s Nigerian projects are still undergoing regulatory procedures, the recent approvals represent significant progress from exploration toward potential commercial mining operations.
If the remaining approvals are secured and the acquisition is completed, the 11-mineral-title portfolio is expected to strengthen Nigeria’s position as one of Africa’s emerging producers of lithium and other strategic minerals.
