CleanTech Lithium - Update to CEOL Process

Cleantech Lithium

23/04/2025 07:00

RNS Number : 7637F

CleanTech Lithium PLC

23 April 2025

 

23 April 2025

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

Update to CEOL Process

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, has been informed by the Chilean Government that the Company's Special Lithium Operating Contract ("CEOL") application under the simplified procedure for the Laguna Verde project has been rejected and has not been admitted into the streamlined process that provides for direct negotiation but should enter a short public tender process. The Company will be appealling this decision within five business days in accordance with a procedure set out in the Ministry's resolution document. CleanTech believes it can meet the criteria set out by the Government (referring to RNS dated 15 January 2025) and will provide a further update in due course. Acquiring a CEOL gives the applicant the right to commercially produce lithium. 

Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:

"We were informed by the Chilean Government yesterday afternoon that our Laguna Verde application has not been accepted into the streamlined CEOL process. While not the decision we expected, we will be exercising our right to appeal within the five-day window provided.

We believe CleanTech can meet the criteria set out by the Government. The Company has made significant investments in its Chile projects through extensive drilling campaigns, pilot plant development, and detailed technical studies, while also building strong, transparent relationships with local indigenous communities. We have undertaken by far the most extensive resource evaluation and process development work for a DLE project in Chile, in support of the Chilean Government´s National Lithium Strategy, and are fully committed to continuing that work. We will provide a further update once we receive a response to our appeal."

 

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
Ignacio Mehech/Gordon Stein/Nick Baxter
Jersey office: +44 (0) 1534 668 321
Chile office: +562-32239222
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish/Asia Szusciak
+44 (0) 20 7628 3396
Fox-Davies Capital Limited (Joint Broker)
Daniel Fox-Davies
+44 (0) 20 3884 8450
daniel@fox-davies.com
Canaccord Genuity (Joint Broker)
James Asensio
+44 (0) 20 7523 4680

 

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.

 

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production.

The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All three projects have good access to existing infrastructure.

CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE") with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com

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