REG - CleanTech Lithium - Expressions of Interest Submitted

Cleantech LithiumAnnouncement

25/06/2024 07:00

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RNS Number : 6815T  CleanTech Lithium PLC  25 June 2024

25 June 2024

 

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

Expressions of Interest Submitted

Project Name Change

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration
and development company advancing sustainable lithium projects in Chile,
confirms Expressions of Interest ("RFIs") for a total of five lithium projects
have been submitted for the Chilean Government to review. This is part of the
process the Company must follow to be awarded a Special Lithium Operating
Contract ("CEOL") to produce lithium. In addition, the Company would like to
announce that it has renamed its second flagship project Francisco Basin to
Viento Andino.

 

Highlights:

·    The Company's subsidiaries, Atacama Salt Lakes SpA, CLS Chile SpA and
CleanTech Antofagasta SpA, have submitted RFIs to the Chilean Government
in-line with the updated CEOL application procedure, part of the National
Lithium Strategy.

·    It is expected that the Chilean Government will release an update on
the RFIs process on or around 9th July 2024, where the Government will
elaborate on how projects are expected to move forward with the process
leading to the award of a CEOL, a key contract required to becoming a new
lithium producer in Chile subject to environmental impact assessments and
possibly further consultation with local communities.

·    RFIs have been submitted for CTL's two most advanced projects; Laguna
Verde and Viento Andino (previously known as Francisco Basin) and three
additional RFIs have been submitted for projects in partnership with other
parties which are subject to confidentiality.

·    The RFIs highlight the advanced progress CTL has made developing its
projects based on using Direct Lithium Extraction, early and groundbreaking
community engagement, and full alignment with Chile´s National Lithium
Strategy.

·    The name of the Company´s Francisco Basin project has been changed
to Viento Andino, in line with the RFI submission, to highlight the project
area is outside the area of a national park of similar name located in the
basin.

·    The award in due course of CEOLs will help CTL secure investment for
the construction of the Projects thus contributing to the future supply of
sustainable lithium from Chile.

 

Steve Kesler, Executive Chairman and Interim CEO, of CleanTech Lithium PLC,
said: "We are very pleased to confirm the Expressions of Interest have been
submitted to the Chilean government ahead of the deadline set by the Ministry
of Mining. Submissions were made in respect of our two advanced wholly owned
projects and three new prospective projects as joint ventures. We have
highlighted the significant investment we have already made across our lithium
projects, the positive progress with DLE and our established engagement with
local communities. These submissions are a required step in the process to be
awarded a CEOL by the Government, and the granting of a CEOL is key to
becoming a lithium producer, subject to environmental impact assessments which
are already underway. We expect to hear from the Government in July how the
process towards the award of CEOLs for our two advanced projects will move
forward following the announcement of results of the RFI process on or around
9th July."

 

Expressions of Interest Submitted

CleanTech Lithium submitted the Laguna Verde and Viento Andino Expressions of
Interest ahead of the deadline of 17(th) June 2024 set by the Chilean
government. The RFI process is for the Government to collate interest from all
companies and review the suitability of developing a lithium project on all
the salars in Chile that were identified as open for development. The
Government will consider if consultation with local communities is needed
before proceeding with the process to award a CEOL.  CTL has maintained open
dialogue with local communities since inception of its projects and signed a
collaboration agreement with key local communities in December 2023, receiving
their strong support for the development of CTL's sustainable lithium
projects.

A third RFI submitted relates to the exploration licences CTL holds in the
basin of the Salar de Atacama, which are significantly outside the salar
margin, and the area designated as strategic under the National Lithium
Strategy. This has been designated as the ´Arenas Blancas´ project. The
Company has submitted a joint venture RFI with a private Chilean company with
the combined licence area of the two companies having good prospectivity. The
submission provides a compelling alternative for a sustainable lithium project
in the region with a DLE based extraction-reinjection model that protects the
hydrogeological balance of the subsurface aquifer and provides for innovative
ways to work with the local community.

Two further RFIs have been submitted in joint venture with another party over
salars that have been declared by the Government as open for lithium
development. Details of these submissions remain, at this stage, confidential
but if CEOLs are awarded for these an appropriate announcement will be made.

Project Name Change; Francisco Basin to Viento Andino

Francisco Basin has been CTL´s second priority project after the more
advanced Laguna Verde project. The project is located in the vicinity of the
Nevada Tres Cruces national park, which extends from the southern part of the
Maricunga basin to the northern part of the Laguna del Negro Francisco basin,
otherwise referred to as Francisco Basin. In March 2024, as part of the
National Lithium Strategy, the Chilean Government further clarified that
national parks would be protected from lithium development.

The Company has made the decision to change the name of the Francisco Basin
Project to Viento Andino to remove any doubt as to which area the project
covers and underlining that all previous exploration programmes and planned
works are undertaken outside of the protected area and additionally applying a
buffer zone.

 

 

 

 

 

 

 

 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
Viento Andino, 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 Viento Andino 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. www.ctlithium.com (http://www.ctlithium.com/)

 

**ENDS**

 

 

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