Business
Application of Operating Contracts in Chile
Application of Operating Contracts in Chile.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n\n07 September 2023\n \nCleanTech Lithium PLC (\"CleanTech Lithium\" or \"CTL\" or the \"Company\")\napplies for Special Lithium Operating Contracts (\"CEOLs\") to advance lithium production in Chile.\n \nCleanTech Lithium PLC, (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), a leading sustainable lithium explorer and developer in Chile for the clean energy transition, is pleased to announce that the Company's subsidiaries in Chile, Atacama Salt Lakes SpA and Laguna Negro Francisco SpA, have submitted applications for the Special Lithium Operation Contracts (\"CEOLs\") for the Company's two advanced projects; Laguna Verde and Francisco Basin (the \"Projects\").\nHighlights:\n· Following discussions with Government representatives and other stakeholders in Chile, CleanTech Lithium´s wholly-owned subsidiaries, Atacama Salt Lakes SpA and Laguna Negro Francisco SpA, have submitted applications for operating contracts (\"CEOLs\") for the Company's two advanced projects Laguna Verde and Francisco Basin - These are the first CEOL applications to have been made in Chile since the announcement of the National Lithium Strategy in April 2023.\n· In the applications, CTL stated that it is open to inviting the state national mining company, ENAMI, to partner with the Company as a minority stake partner in both the Laguna Verde and Francisco Basin projects through standard joint venture (\"JV\") arrangements consistent with other such JV arrangements ENAMI has in place in the mining sector in Chile.\n· Securing the operating contracts will:\no be an important milestone towards commercial production of lithium from the Projects.\no help CTL secure investment for construction of the Projects thus contributing to the future supply of sustainable lithium from Chile to the global battery market for the clean energy transition.\no open the door for more substantive discussions with potential strategic and offtake partners for the Company's planned lithium production.\n· The Company will work with the authorities in Chile over the coming months to seek approval of these applications which are submitted under the terms of the National Lithium Strategy and in compliance with current Chilean law.\n \n\nFig 1. Submission documents for Laguna V...