REG - CleanTech Lithium - CEOL Applications

Cleantech LithiumAnnouncement

03/04/2024 07:00

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RNS Number : 0315J  CleanTech Lithium PLC  03 April 2024

03.04.2024

CleanTech Lithium PLC ("CleanTech Lithium", "CTL" or the "Company")

Resubmitting CEOL Applications after Government Meeting

No Impact to Project Timeline Expected

CleanTech Lithium PLC (AIM:CTL, Frankfurt: T2N, OTCQX: CTLHF), an exploration
and development company advancing lithium projects in Chile, following a
meeting with representatives of Chile´s Mining Ministry last week, will be
resubmitting the applications for Special Lithium Operating Contracts (CEOLs)
for Laguna Verde and Francisco Basin updating them in line with the latest
requirements. The resubmission process has no impact on the expected project
timeline. This follows the recent announcement made by the Chilean Government
which outlined the new approach for private companies to "express interest" in
non-strategic salars.

Highlights:

·    Chilean Government outlined a new process for private companies to
express interest to develop non-strategic salars for lithium production in
Chile starting from April 2024.

·    CTL regards the new announcement as extremely positive for the both
the Company and the development of the Lithium Industry in Chile because there
is now a clearer timeline.

·    CTL to resubmit CEOL applications in line with the new process with
minor changes to be made to the previous submission with no impact to expected
project timeline.

·    The Government will carry out local community consultations before
any CEOL application is approved, which CTL is very well positioned for.

·    CTL has a signed partnership with the local communities forming a
co-designed mining model. This is a pioneering agreement in the lithium
exploration sector in Chile.

·    It is expected that by July 2024 the Minister of Mining will list the
salars where there is private sector interest in leading exploration projects
for lithium production.

·    CEOLs are then expected to be awarded by the State for these salars.

·    The Government has stated it expects four new lithium projects to be
in production in 2026. CTL´s Laguna Verde is among the most advanced new
lithium projects in Chile.

On Thursday 28(th) of March, CTL´s CEO Aldo Boitano held a very productive
and positive meeting with the Mining Undersecretary (equivalent to Deputy
Minister) of Chile´s Mining Ministry, Mrs Suina Chahuán, along with
representatives of the Ministry, to discuss the recent announcement by the
Government of Chile regarding the Protected Salars network and salars open to
development (see CTL's 27(th) March RNS for further information).

Considering the Government's announcement and clarification that CTL's assets
would not fall under strategic assets, CTL is withdrawing the current CEOL
applications which were submitted under the previous arrangements. The Company
will resubmit both applications once updated to meet the requirements of the
National Lithium Strategy and be in line with the new process.

Aldo Boitano, Chief Executive Officer of CleanTech Lithium, said:

"We were delighted to attend this meeting with the Mining Ministry so soon
after the new approach had been announced by the Government, one of the first
companies to have such conversations. Under this new guidance from the
Government, we will proceed with our project's CEOL applications and continue
our constant coordination with the government to develop our projects into
production.

"Following the resubmission, consultations with local communities hosted by
the Government will commence. CTL has an established partnership with the
local communities and our approach to early engagement, we believe, will help
speed up the CEOL approval process. We will update the market when the
resubmission has been made."

"This is happening in tandem with the progress we have made with the
Pre-Feasibility Study for Laguna Verde and the Environment Impact Assessment
which are both critical milestones for 2024 and on our path to lithium
production. The Government expects four new lithium projects to be in
production in 2026 and our Laguna Verde is among the most advanced new
projects in Chile".

CTL already expressed interest by submitting the CEOLs in September 2023 for
Laguna Verde and Francisco Basin with unified support from the local
communities in the region. The Company expects the updated applications for
Laguna Verde and Francisco Basin will be approved in due course with no impact
on the project timeline.

 

Notes:

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Gordon Stein,
Director and CFO.

 

 For further information contact:

 CleanTech Lithium PLC
 Aldo Boitano/Gordon Stein                     Jersey office: +44 (0) 1534 668 321

                                               Chile office: +562-32239222
                                               Or via Celicourt
 Celicourt Communications                      +44 (0) 20 7770 6424
 Felicity Winkles/Philip Dennis/Ali AlQahtani  cleantech@celicourt.uk (mailto:cleantech@celicourt.uk)

 Harbor Access - North America                 +1 475 477 9401

 Jonathan Paterson/Lisa Micali
 Porter Novelli - Chile                        +569 95348744

 Ernesto Escobar                               Ernesto@publicoporternovelli.cl

 Beaumont Cornish Limited                      +44 (0) 207 628 3396

 (Nominated Adviser)

 Roland Cornish/Asia Szusciak

 Canaccord Genuity (Joint Broker)              +44 (0) 207 523 4680

 James Asensio

 Fox-Davies Capital Limited (Joint Broker)     +44 20 3884 8450
 Daniel Fox-Davies                             daniel@fox-davies.com (mailto:daniel@fox-davies.com)

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

About CleanTech Lithium

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing sustainable lithium projects in Chile for the
clean energy transition. Committed to net-zero, CleanTech Lithium's mission is
to produce material quantities of sustainable battery grade lithium products
using Direct Lithium Extraction technology powered by renewable energy. The
Company plans to be a leading supplier of 'green' lithium to the EV and
battery manufacturing market.

CleanTech Lithium has two key lithium projects, Laguna Verde and Francisco
Basin, and hold licences in Llamara and Salar de Atacama, located in the
lithium triangle, a leading centre for battery grade lithium production. The
two major projects: Laguna Verde and Francisco Basin are situated within
basins controlled by the Company, which affords significant potential
development and operational advantages. All four projects have direct access
to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and
reducing the environmental impact of its lithium production by utilising
Direct Lithium Extraction with reinjection of spent brine. Direct Lithium
Extraction is a transformative technology which removes lithium from brine,
with higher recoveries than conventional processes. The method offers short
development lead times with no extensive site construction or evaporation pond
development so there is minimal water depletion from the
aquifer. www.ctlithium.com (http://www.ctlithium.com/)

 

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