03.04.2024
CleanTech Lithium PLC
("CleanTech Lithium", "CTL" or the "Company")
Resubmitting CEOL Applications after Government
Meeting
No Impact to Project Timeline
Expected
CleanTech Lithium PLC (AIM:CTL,
Frankfurt: T2N, OTCQX: CTLHF), an exploration and development
company advancing lithium projects in
Chile, following a meeting with
representatives of Chile´s Mining Ministry last week, will be
resubmitting the applications for Special Lithium Operating
Contracts (CEOLs) for Laguna Verde and Francisco Basin updating
them in line with the latest requirements. The resubmission process
has no impact on the expected project timeline. This follows the
recent announcement made by the Chilean Government which outlined
the new approach for private companies to "express interest" in
non-strategic salars.
Highlights:
·
Chilean Government outlined a new process for
private companies to express interest to develop non-strategic
salars for lithium production in Chile starting from April
2024.
·
CTL regards the new announcement as extremely
positive for the both the Company and the development of the
Lithium Industry in Chile because there is now a clearer
timeline.
·
CTL to resubmit CEOL applications in line with the
new process with minor changes to be made to the previous
submission with no impact to expected project timeline.
·
The Government will carry out local community
consultations before any CEOL application is approved, which CTL is
very well positioned for.
·
CTL has a signed partnership with the local
communities forming a co-designed mining model. This is a
pioneering agreement in the lithium exploration sector in
Chile.
·
It is expected that by July 2024 the
Minister of Mining will list the salars where
there is private sector interest in leading exploration projects
for lithium production.
·
CEOLs are then expected to be awarded by the State
for these salars.
·
The Government has stated it expects four new
lithium projects to be in production in 2026. CTL´s Laguna Verde is
among the most advanced new lithium projects in Chile.
On Thursday 28th of
March, CTL´s CEO Aldo Boitano held a very productive and positive
meeting with the Mining Undersecretary (equivalent to Deputy
Minister) of Chile´s Mining Ministry, Mrs Suina Chahuán, along with
representatives of the Ministry, to discuss the recent announcement
by the Government of Chile regarding the Protected Salars network
and salars open to development (see CTL's 27th March RNS
for further information).
Considering the Government's
announcement and clarification that CTL's assets would not fall
under strategic assets, CTL is withdrawing the current CEOL
applications which were submitted under the previous arrangements.
The Company will resubmit both applications once updated to meet
the requirements of the National Lithium Strategy and be in line
with the new process.
Aldo Boitano, Chief Executive Officer of CleanTech Lithium,
said:
"We were delighted to attend this
meeting with the Mining Ministry so soon after the new approach had
been announced by the Government, one of the first companies to
have such conversations. Under this new guidance from the
Government, we will proceed with our project's CEOL applications
and continue our constant coordination with the government to
develop our projects into production.
"Following the resubmission,
consultations with local communities hosted by the Government will
commence. CTL has an established partnership with the local
communities and our approach to early engagement, we believe, will
help speed up the CEOL approval process. We will update the market
when the resubmission has been made."
"This is happening in tandem with
the progress we have made with the Pre-Feasibility Study for Laguna
Verde and the Environment Impact Assessment which are both critical
milestones for 2024 and on our path to lithium production. The
Government expects four new lithium projects to be in production in
2026 and our Laguna Verde is among the most advanced new projects
in Chile".
CTL already expressed interest by
submitting the CEOLs in September 2023 for Laguna Verde and
Francisco Basin with unified support from the local communities in
the region. The Company expects the updated applications for Laguna
Verde and Francisco Basin will be approved in due course with no
impact on the project timeline.
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