Chariot Resources (ASX:CC9) entered into a non-binding memorandum of understanding with Fujian Jinjianqiao New Energy Technology for the potential offtake of lithium ores and concentrates from Chariot's Nigerian lithium projects, financing arrangements, and the development of local lithium processing capacity in Nigeria, according to a Thursday Australian bourse filing.

The China-based lithium trading house may seek to reach an agreement of terms with Chariot for long-term exclusive offtake of spodumene concentrate after completing due diligence, the filing said. After completing due diligence, and subject to negotiation and agreement on terms, Jinjianqiao could potentially select one of Chariot's four lithium projects in Nigeria for offtake.

Chariot will collaborate with Jinjianqiao to evaluate the design, construction, and operation of a lithium processing plant in Nigeria, the filing said. They will also hold talks on potential financing support from Jinjianqiao, which could include credit lines or offtake prepayment financing.