REG - CleanTech Lithium - CEOL Update

Cleantech LithiumAnnouncement

27/09/2024 07:00

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RNS Number : 9009F  CleanTech Lithium PLC  27 September 2024

27 Sept 2024

 

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

Chilean Government prioritises Laguna Verde for CEOL

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt: T2N, OTCQX:CTLHF), an exploration
and development company advancing lithium projects in Chile for the clean
energy transition, reports an announcement by the Chilean Government on the
Expressions of Interest ("RFIs") process under which the Company made
submissions in June 2024. This is part of the process for the awarding of a
Special Lithium Operating Contract ("CEOL") to enter production.

 

The Government has prioritised six salt flats for lithium development,
including Laguna Verde the Company's flagship project, as having the most
favourable conditions to advance lithium exploration and extraction. The
Ministry of Mining will award one CEOL per salt flat with companies only
considered if they meet certain criteria.

 

Highlights:

·    Laguna Verde prioritised by the Chilean Government as one of six salt
flats for which the CEOL awarding process will start.

·    CTL submitted RFIs to the Chilean Government in June 2024 in line
with the updated CEOL application procedure as part of the National Lithium
Strategy.

·    For a CEOL to be awarded companies must have experience in any stage
of the lithium industry value chain, which includes exploration and
development, the financial capacity to develop the project and, additionally,
hold mining concessions equivalent to or greater than 80% of the applicable
CEOL area within any of the six prioritised salar basins.

·    CTL´s RFI application directly addressed each of these key criteria
and as the Company has a dominant licence position in the Laguna Verde basin
it is the only Company that meets the mining concession area requirement.

·    The Chilean Government will now commence indigenous community
consultations related to these six salars.

·    Additional to other criteria, CTL has developed a strong relationship
with indigenous communities located in the surroundings areas, based on early
engagement including a collaborative alliance signed in December 2023 to
co-design the project´s Environmental Impact Assessment ("EIA"). The Company
is also working with the regional University to promote local opportunities
for future projects.

·    The next stage of the process is for companies to submit the CEOL
application by December 31(st) 2024.

·    The RFI process has been transparent, and recognises the importance
of progress made by applicants, with CTL being a leader in developing its
projects based on using Direct Lithium Extraction ("DLE"), early and
groundbreaking community engagement in the Atacama region, and full alignment
with Chile´s National Lithium Strategy.

 

Steve Kesler, Executive Chairman and Interim CEO, of CleanTech Lithium PLC,
said:

"We are pleased the Chilean Government has provided an update on the CEOL
process to support the lithium industry in Chile. It is very positive to see
Laguna Verde has been prioritised as one of the salt flats that has the most
favourable conditions to develop lithium production. We submitted our RFI
highlighting the significant investment we have already made, the positive
progress with DLE and our established engagement with local indigenous
communities. The criteria set out by the Government recognises the status of
the Company´s progress at the Laguna Verde project and puts in place a clear
path to award a CEOL and the project's development into production, which is
targeted for 2027."

 

 

 For further information contact:

 CleanTech Lithium PLC
 Steve Kesler/Gordon Stein/Nick Baxter          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

 Beaumont Cornish Limited (Nominated Adviser)   +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Canaccord Genuity (Joint Broker)               +44 (0) 20 7523 4680

 James Asensio

 Fox-Davies Capital Limited (Joint Broker)      +44 (0) 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.

 

Notes

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 in Chile, 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 extraction 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. https://ctlithium.com/ (https://ctlithium.com/)

 

**ENDS**

 

 

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