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:
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CleanTech
Lithium PLC
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Aldo Boitano/Gordon Stein
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Jersey office: +44 (0) 1534 668 321
Chile office: +562-32239222
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Or via Celicourt
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Celicourt
Communications
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+44 (0) 20 7770 6424
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Felicity Winkles/Philip Dennis/Ali
AlQahtani
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cleantech@celicourt.uk
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Harbor Access
- North America
Jonathan Paterson/Lisa Micali
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+1 475 477 9401
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Porter Novelli
- Chile
Ernesto Escobar
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+569 95348744
Ernesto@publicoporternovelli.cl
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Beaumont
Cornish Limited
(Nominated
Adviser)
Roland Cornish/Asia Szusciak
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+44 (0) 207 628 3396
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Canaccord
Genuity (Joint Broker)
James Asensio
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+44 (0) 207 523 4680
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Fox-Davies Capital Limited (Joint Broker)
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+44 20 3884 8450
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Daniel Fox-Davies
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daniel@fox-davies.com
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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