Chinese companies grab stake in Nigeria’s lithium and EV future
Chinese firms are mining lithium in Nigeria and selling finished electric vehicles into the country as the market hots up. Chinese companies are taking up positions at both ends of Nigeria’s clean energy supply chain in a bid to dominate the electric vehicle future of Africa’s most populous country. Two factories for the processing of lithium, a vital element in the batteries for electric vehicles, are planned in Nigeria this year, both backed by Chinese investors. One is a $600m facility under construction on the boundary of Kaduna and Niger states in the country’s north by Jiuling Lithium Mining Company, which is due to start production this quarter. Another, a $200m facility by Canmax Technologies located in Nasarawa state, just outside the capital, Abuja, will start in the third quarter. The Chinese firms have the majority stake, funding more than 80% of the ventures, with the minority stakes held by local investors. Founded in 2011, Jiuling has grown into a leading global su...