Chariot Shifts to Pilot Plant Strategy to Meet U.S. Lithium Demand
Chariot is accelerating its plans to become a lithium producer by shifting focus to a pilot plant strategy at its Black Mountain lithium project in Wyoming. The company aims to supply spodumene concentrate to meet growing U.S. demand, responding to an expected rebound in lithium prices. This strategic pivot, away from large-scale exploration, follows internal reviews highlighting a lower-cost, faster production route.
With lithium refineries under construction in the U.S. Southwest, Chariot sees an opportunity to provide locally sourced lithium, reducing transportation costs compared to imports. The Black Mountain site, just three hours from major refineries, offers a logistical advantage for end users looking to cut expenses.
Wyoming's regulatory environment is another factor driving the company's decision. The state’s favorable permitting laws for small-scale mining—such as a 10-acre surface disturbance limit with no cap on material extraction—make it easier for Chariot to proceed with its pilot operations. Unlike other states, Wyoming doesn't impose restrictions on the volume of material extracted, allowing for more flexibility.
Chariot’s managing director, Shanthar Pathmanathan, emphasized the company’s desire to act quickly: “A pilot mine is a great way to ride the upcoming lithium recovery. We'd like to make a major discovery, but that will take time. In the meantime, we aim to benefit from a recovering spodumene price.”
The project’s near-surface, high-grade deposit, with its conical structure, lends itself to low-cost open-pit mining. Chariot has already started environmental studies and plans to send 200 kg of core material to Australia for metallurgical testing, marking the next step toward production. Additionally, the company has laid out plans for a 43-hole, 4,300-meter reverse-circulation drilling program to create a detailed 3D model of the deposit.
Key to Chariot’s approach is a modular plant design sourced from South Africa. This flexible setup allows for quick scaling if demand increases, enabling Chariot to adapt to market changes. The pilot strategy is intended to offer a quicker, low-capital path to cash flow while positioning the company for future growth as lithium demand rises.
Chariot has steadily expanded its land holdings at Black Mountain, acquiring a total of 352 claims through direct staking and strategic acquisitions. Drilling has already confirmed high-grade spodumene, with results including 15.48 meters at 1.12% lithium oxide, further supporting the project's potential.
