REG - Clontarf Energy PLC - Bolivia Lithium Update

Clontarf EnergyAnnouncement

15/05/2024 11:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240515:nRSO5613Oa&default-theme=true

RNS Number : 5613O  Clontarf Energy PLC  15 May 2024

 

15 May
2024

Clontarf Energy plc

("Clontarf" or the "Company")

Bolivia Lithium Update

Bolivian Brines Qualification for 3(rd) Phase of the 2024 Convocatoria

 

Clontarf Energy plc (AIM: CLON), continues to progress its activities in
Bolivia, and is pleased to report the following update:

Further to the Company's 6 and 18 March 2024 announcements, the Bolivian State
Lithium Company ("YLB") received Clontarf's technical materials in relation to
Phase 2 of the Call for Bids ("convocatoria") for the seven priority salares
(salt pans) in Southern Bolivia.

YLB confirmed on 14 May that Clontarf is one of 21 companies approved to enter
Phase 3 of the (5 phase) process.  Phase 2 dealt in detail with the technical
aspects of state-of-the-art Lithium extraction technologies, especially
emerging Direct Lithium Extraction techniques.

Phase 3 of the convocatoria process will include confirmation of the
Clontarf/NEXT-ChemX JV partnership's financial capacity, which include a
review of the last 5-years' accounts, and a risk-rating. As a reminder to
Shareholders, Clontarf has worked closely with its JV technology partner
NEXT-ChemX since 2022.

At the suggestion of the European Commission, Clontarf has now broadened its
"Team Europe" partnership to include financing and offtake partners
representing key OEM manufacturers in the German Mittelstand.  Endorsement
from one of the world's leading groups of high tech, battery-quality Lithium
offtakers is heartening.

The Company further acknowledges the European Commission's leadership and
strong support for the European companies involved, including initiating
high-level negotiations over infrastructure financing, and issuing a Letter of
Comfort for the qualified European companies, which may prove critical in
overcoming any remaining financial challenges. Clean, Green Lithium from
brines may be classified as a strategic project under the EU's Critical
Resource Minerals Act.

Further updates will be provided, as appropriate, in accordance with necessary
clearances from the authorities.

 

David Horgan, Chairman, commented: "Bolivia offers potential for large volumes
of high-purity, cleanly produced battery-grade Lithium for the European
market.

We must go where the resources are: there are many sources of hard-rock
Lithium worldwide, but their mining and processing is often dirty and
expensive. Only Lithium brines offer the potential for clean, Green low-cost
and high quality product."

"Europe needs offtake.  Chinese dominance of Rare Earths, and graphite
mining, together with Chinese control of Lithium and Cobalt processing, puts
western supplies in jeopardy.  We can no longer rely on free markets to
ensure supply.  European vulnerability is further exacerbated by
protectionist moves in NAFTA, and Japan.  The EU has little choice but to
secure its lifelines."

"No one company or country has the weight to grapple with China and NAFTA - it
must be a "Team Europe" effort.  Accordingly, we sought EU institutional
cover and, where possible, minority investments by Member States' entities to
guard against expropriation."

"Finance is best linked to offtake.  We are now cooperating on downstream and
financing activities with Germany's leading Mittelstand representative body.
All markets are important, but Germany's OEM market is critical."

"We have worked for many years on Bolivian brines.  But the convergence of
fast demand growth, rising standards and geopolitical imperatives now
accelerates progress."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.

ENDS

For further information please visit http://clontarfenergy.com
(http://clontarfenergy.com) or contact:

 Clontarf Energy                    +353 (0) 1 833 2833

 David Horgan, Chairman

 Jim Finn, Director

 Nominated & Financial Adviser      +44 (0) 20 7409 3494

 Strand Hanson Limited

 Rory Murphy

 Ritchie Balmer
 Broker                                     +44 (0) 207 399 9400

 Novum Securities Limited

 Colin Rowbury

 Public Relations                   +44 (0) 207 138 3206

 BlytheRay

 Megan Ray
 Teneo                              +353 (0) 1 661 4055

 Luke Hogg

 Alan Tyrrell

 Fia Long

 Alan Reynolds

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDQKPBBKBKDBPD