REG - CleanTech Lithium - Comment on Chilean Government's Announcement

Cleantech LithiumAnnouncement

27/03/2024 08:30

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RNS Number : 4955I  CleanTech Lithium PLC  27 March 2024

27.03.2024

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

Comment on Chilean Government's announcement of strategic and protected salt
flats

CleanTech Lithium PLC (AIM:CTL, Frankfurt: T2N, OTCQX: CTLHF), an exploration
and development company advancing lithium projects in Chile, today commented
on the announcement by the Government of Chile regarding the designation of
strategic salars and the creation of a Protected Salars Network under the
current administration's National Lithium Strategy.

Yesterday afternoon, in Chile, within the session held by the Committee of
Ministers for Sustainability, led by the Minister of Environment, the creation
of a Protected Salt Flats Network was unanimously approved. To achieve the
aims of the National Lithium Strategy, it was agreed that private companies
can take leadership roles on salars that are outside of the protected network
and are not defined as strategic. CTL's non-strategic projects, remain outside
areas declared as protected or that need further studies for such protection
declaration, and therefore are still eligble for exploration and exploitation.

The Government set a clear path ahead, calling upon private companies from
early April 2024 to express interest in the additional salars for lithium
projects. It is expected that around July 2024, the Minister of Mining will
list the salt flats where there is private sector interest in leading
exploitation and exploration projects and those that require local indigenous
consultations. After July, will see the allocation of the Special Lithium
Operation Contracts (CEOLs), which are the special contracts the State awards
regulating the terms and conditions for the exploitation, and benefit of the
lithium reserves and permitting a salt flat to become a commercial project.

CleanTech Lithium has already expressed interest by submitting the CEOLs in
September 2023, for Laguna Verde and Francisco Basin, with support from the
local communities in the region.

Highlights:

·    The Chilean Government, led by the Minister of Environment, has
agreed on a network of protected salars that will require further
environmental assessment.

·    CTL's non-strategic projects; Laguna Verde and Francisco Basin remain
outside areas declared as protected or that need further studies for such
protection declaration.

·    From April 2024, private companies can express their interest to
develop salars outside of the protected network.

·    It is expected that by July 2024, the Minister of Mining will list
the salt flats where there is private sector interest in leading exploitation
and exploration projects and those that require local indigenous consultations
and those that do not.

·    Approval of CEOLs will then be awarded by the State for these salars

·    Private companies are able to take leadership in developing these new
lithium projects, potentially in participation with State entities or on their
own.

Following the announcement, the Finance Minister Mario Marcel commented that
Chile's current production could increase up to 70% by the end of decade and
double in ten years.

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

"The announcement made by the Chilean Government moves the National Lithium
Strategy forward in a very positive way. The news brings certainity to those
salt flats that will be subject to a more detailed environmental assessment
and those that are for potential exploration and eventually exploitation. At
CleanTech Lithium, we continue to progress our direct lithium extraction (DLE)
projects, highlighting our commitment to mining that minimises its
environmental footprint, and listens to the local communities in the Atacama
Region, both of which are key conditions of the Chile's lithium strategic
framework.

"The anticipated approval of our CEOLs, submitted in September 2023 by the
Company, is the next step forward for our projects, while deepening our local
community engagement with our existing alliance and deployment of DLE
technology".

 

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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