Business
Update to CEOL Process
Update to CEOL Process.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n\n23 April 2025\nCleanTech Lithium PLC (\"CleanTech Lithium\" or the \"Company\")\nUpdate to CEOL Process\n \nCleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, has been informed by the Chilean Government that the Company's Special Lithium Operating Contract (\"CEOL\") application under the simplified procedure for the Laguna Verde project has been rejected and has not been admitted into the streamlined process that provides for direct negotiation but should enter a short public tender process. The Company will be appealling this decision within five business days in accordance with a procedure set out in the Ministry's resolution document. CleanTech believes it can meet the criteria set out by the Government (referring to RNS dated 15 January 2025) and will provide a further update in due course. Acquiring a CEOL gives the applicant the right to commercially produce lithium. \nIgnacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:\n\"We were informed by the Chilean Government yesterday afternoon that our Laguna Verde application has not been accepted into the streamlined CEOL process. While not the decision we expected, we will be exercising our right to appeal within the five-day window provided.\nWe believe CleanTech can meet the criteria set out by the Government. The Company has made significant investments in its Chile projects through extensive drilling campaigns, pilot plant development, and detailed technical studies, while also building strong, transparent relationships with local indigenous communities. We have undertaken by far the most extensive resource evaluation and process development work for a DLE project in Chile, in support of the Chilean Government´s National Lithium Strategy, and are fully committed to continuing that work. We will provide a further update once we receive a response to our appeal.\"\n \nThe 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 t...