Interim Results for six-month period ending 30 June 2024
CleanTech Lithium PLC (AIM:CTL)(Frankfurt:T2N)(OTCQX:CTLHF), an exploration and development companyadvancing sustainable lithium projects in Chile for the clean energy transition, is pleased to announce its unaudited Interim Results for the six-month period ended 30 June 2024 ('1H 2024' or 'the Period').
The Company has made significant progress with the Pre-Feasibility Study ('PFS') at the flagship project, Laguna Verde, and seen encouraging results from the Direct Lithium Extraction ('DLE') pilot plant in Chile and will be producing battery-grade lithium carbonate for potential strategic partners to evaluate. The Company is also pursuing a dual listing on the Australian Stock Exchange ('ASX') and aims to be trading on the ASX in Q4 2024.
Operational: Health & Safety: Zero-harm safety culture focused on continuous improvement to achieve an injury free and healthy work environment - no LTIs, major incidents or near misses recorded in 1H 2024.
Laguna Verde Drilling Programme: Five-well resource drilling programme commenced. Work designed in collaboration with Montgomery & Associates, a leading hydrogeology and resource evaluation consultancy.
Programme aims to produce a maiden reserves estimate using modifying factors from the Pre-Feasibility Study ('PFS') which is underway and targeted for completion by the end of 2024.
DLE Pilot Plant: Operational and producing high quality lithium chloride eluate with low impurities.
Eluate is being converted to produce batches of battery-grade lithium carbonate which will be made available to potential strategic partners in Q4 2024 to start product qualification.
Inauguration event was held in May 2024 where local communities and government officials were in attendance.
Project Licences: CTL entered into a sale and purchase agreement ('SPA'), now taking full ownership of certain Laguna Verde licences that were previously held by way of an option agreement
The licences held in the Salar de Atacama basin, which we understand are located outside the salar area defined as strategic by the Government and have been re-named the 'Arenas Blancas' project, are a potentially very promising opportunity.
CEOL Contracts: Expressions of Interest ('RFIs') for a total of five lithium projects have been submitted to the Chilean Government. CTL is very well positioned as the most advanced exploration stage company progressing DLE based projects in Chile.
Francisco Basin project has been renamed Viento Andino, in line with the RFI submission, to highlight the project area is outside a national park of a similar name located in the basin.
Executive Chairman Steve Kesler assumed the duties of CEO on an interim basis, following the resignation of CEO, Aldo Boitano in April.
The search for a new CEO is well underway and the chosen candidate will be announced in due course.
Cash position:
The Company's cash position at the period end, including proceeds received from Loan Notes shortly after period end, was GBP2.1 million.
Post-period Highlights: Operational: Pump tests and a reinjection well at Laguna Verde, planned to be undertaken in Q4 2024, will help define the brine extraction and reinjection wellfield design and the sustainable production rate required for the PFS.
A plant location study was completed by Worley for the Laguna Verde project and concluded that the DLE and eluate concentration should be undertaken at project site and the purification and carbonation close to Copiapo which is at a lower elevation with good technical support locally available. This latter plant would be expanded in the future to also process concentrated eluate from the Viento Andino project.
Completion of the first stage of production of concentrated eluate from the Company's DLE pilot plant which has been shipped for conversion to battery-grade lithium carbonate by process partners in North America.
Corporate: ASX Listing: The Company is seeking to dual-list on the Australian Securities Exchange ('ASX'). Although the Company announced an extension to the ASX IPO timetable on 20 September 2024, to allow it to address some procedural matters raised by ASX, the intention remains to complete the IPO before the year end. An associated capital raise is planned to enable completion of the PFS and continuance of other work programmes. Notwithstanding, the Company continues to consider its funding options on an ongoing basis as a part of its normal practice.
CEOL Process: The Government has streamlined the CEOL process, announcing an update at the end of Septemberprioritising six salt flats for lithium development including Laguna Verde, the Company's flagship project, as having the most favourable conditions to advance lithium exploration and extraction. CEOL applications to be submitted by 31st December 2024.
Local stakeholders: CTL attended a seminar organised by CESCO alongside local indigenous communities. The President of the Colla Pai-Ote community publicly endorsed CTL's Laguna Verde project as the way forward for the lithium industry in Chile, which was widely reported in the Chilean media.
CTL's DLE carousel equipment is now installed at the University of Atacama as part of an ongoing partnership. The DLE equipment will be available for research programmes. The long-term collaboration between the University and CTL will help nurture the skills required for fostering the lithium industry in the Atacama region.
Steve Kesler, Executive Chairman and Interim CEO, CleanTech Lithium said: 'The first half of 2024 has seen significant operational and strategic progress on our lithium projects in Chile. This includes the production of high quality lithium chloride eluate with low impurities from our DLE pilot plant, which has a capacity to produce one tonne per month of lithium carbonate equivalent. A drilling, pump testing and reinjection programme was started at Laguna Verde aimed at updating the JORC resource estimate, providing data for the PFS and developing of a maiden reserve estimate.
'The Company is also in the process of listing on the ASX exchange, which will support its future development, as it enters potential strategic partner discussions and progresses towards production. Whilst this process has been delayed, the ASX market is well versed in the lithium sector and a meaningful number of the Company's existing shareholders have Australian links.
'With the PFS well underway and project development ongoing, backed by the strong support from local indigenous communities and aligned with the objectives of Government's National Lithium Strategy, we look forward to the future with confidence.'
Business Strategy
CleanTech Lithium continues to make great strides in meeting the objective of becoming a leading supplier of battery-grade lithium carbonate to support the world's transition to clean energy. The progress made towards building sustainable lithium projects in Chile where the Company is planning to use Direct Lithium Extraction ('DLE') powered by renewable energy directly addresses the Chilean Government's ambition to drive positive change in sustainability and social and economic development.
The 'National Lithium Strategy', proposed by the President of Chile in late April 2023, aims to ensure Chile remains a top producer and supplier of lithium - a critical component for batteries in Electric Vehicles and energy storage systems ('ESS'). The established mining jurisdiction is currently the largest supplier of copper in the world and one of the largest suppliers of battery grade lithium. To move to a world run on clean energy, new lithium projects are needed, and Chile has the established infrastructure, industry expertise and workforce to bring projects like CleanTech Lithium's into production in the next few years.
New projects must be built in the right way and the Government has prescribed the use of DLE (or similar sustainable technologies) for all new lithium development projects going forward. CleanTech Lithium's strategy is to play a significant role in assisting the Chilean government to achieve this ambition. The Company believes it is most the advanced development stage DLE company operating in Chile and the achievements made in the first half of 2024 is evidence of this. It is very encouraging to see the Company's DLE Pilot Plant producing samples of battery-grade lithium carbonate which will soon be tested by potential strategic partners.
The Company's business strategy is focused on delivering long-term sustainable growth and returns for all stakeholders, built on four pillars:
develop the Company's advanced lithium projects (Laguna Verde, Viento Andino) and progress the early-stage exploration projects (Arenas Blancas and Llamara) in Chile;
utilise innovative technologies, including DLE and, where possible, renewable energy to sustainably produce lithium carbonate;
produce commercial battery-grade lithium carbonate with high lithium recoveries and short production time and supply directly into the EV and battery storage market via strategic partners and offtake agreements.
To this end, the Company's immediate objectives are as follows: update the JORC resource estimate for Laguna Verde on completion of the 2024 drilling campaigns and declare a maiden reserves estimate; complete planned hydrogeological studies and metallurgical tests at Laguna Verde, including completing a new reinjection well and pump tests to provide the data required to further advance modelling of the sub-surface aquifer and design the extraction and reinjection wellfields; deliver a Pre-Feasibility Study ('PFS') at the Laguna Verde Project and commence the Definitive Feasibility Study ('DFS') soon afterwards; complete the process test work at the DLE Pilot Plant and make battery grade lithium carbonate available for supply to potential offtake and strategic partners to start product qualification; continue the required work to complete the environmental baseline studies that commenced in 2022 and undertake the studies required to enable submission of the EIA in 1H 2025; enter into a Special Lithium Operation Contract (CEOL) with the Chilean State in relation to the Laguna Verde and Viento Andino Projects to commercially sell lithium; continue to collaborate with the local indigenous communities, universities and other local stakeholders to ensure long-term support for the projects, and enter into substantive discussions with potential offtake and strategic partners with a view to reaching agreement on a future business relationship, including establishing a funding package for the construction phases of the Laguna Verde Project, including equity participation, debt and other structures, to bring the project on stream and start selling lithium carbonate at the earliest possible opportunity.
Summary of Company Activity
In the first six months of the year, CleanTech Lithium made further progress toward delivering its PFS. This included commencing a five-well drilling programme at Laguna Verde, the commissioning of its DLE pilot plant and first production of highly concentrated eluate for further processing to make battery-grade lithium carbonate. The PFS is instrumental to support discussions with potential strategic partners. The Company is also seeking to dual-list on the Australian Securities Exchange ('ASX'). Although the Company announced an extension to the ASX IPO timetable on 20 September 2024, to allow it to address some procedural matters raised by ASX, the intention remains to complete the IPO before the year end. Notwithstanding, the Company continues to consider its funding options on an ongoing basis as a part of its normal practice.
Operations
Health and Safety
The Company maintains a zero-harm safety culture focused on continuous improvement to achieve an injury free and healthy work environment, with no lost time incidents ('LTIs'), major incidents, or near misses reported in the first half of 2024.
Five-Well Drilling Programme at Laguna Verde
The Company commenced a five well drilling programme at Laguna Verde largely aimed at converting Inferred resource to additional Measured & Indicated resource which will then have technical and economic modifying factors applied from the PFS to determine a maiden reserve. The programme was designed in collaboration with Montgomery & Associates, a leading international hydrogeology and resource evaluation consultancy.
The drill programme began in Q1 2024, with the commencement of wells LV07 and LV11 and suspended in May on the onset of the winter shut-down period, with the plan to recommence in October. The programme will also include additional pump testing and reinjection testing in Q4 2024 with results helping to calibrate the hydrogeological model of the basin. This model will help further define the brine extraction and reinjection wellfield design and the sustainable production rate from Laguna Verde. Montgomery & Associates have been engaged to manage the drill programme, JORC resource and reserves reporting and design of the extraction and reinjection wellfields.
Laguna Verde is the Company's most advanced project and has a total JORC resource of 1.8 million tonnes LCE, of which 1.1 million is in the Measured and Indicated category. Laguna Verde's Scoping Study, announced in January 2023, highlighted robust economics, with an NPV8 of US$1.8bn, an IRR of 45.1%, net cashflows of US$6.3 billion and a low operating costs of US$3,875/t for 30 years of production at 20,000 tpa LCE.
DLE Pilot Plant Commissioning and Production
The Company's one-tonne per month DLE pilot plant (supplied by Sunresin) is located in Copiapo, Chile, approximately 250km from Laguna Verde, and finished commissioning in late March. At the R&D centre where the pilot plant is located, brine from the Laguna Verde project is stored in a large 243,000 litre vessel outside the pilot plant and then fed into an indoor tank having passed through filtration to remove suspended solids. It is then fed into the DLE columns shown in the image below, which are filled with adsorbent designed to be selective for lithium molecules. Lithium, as lithium chloride, is adsorbed from the brine, before desorption with water to create a purified lithium chloride eluate.
Testing of a wide range of commercially available adsorbents identified that the adsorbent supplied by Lanshen performed the best on the Laguna Verde brine resulting in the selection of this adsorbent. The DLE Pilot Plant commenced operation in Q2 2024, producing high quality concentrated eluate. In May, the Company reported the key DLE performance metrics for the first batch of 24m3 of concentrated eluate produced at the pilot plant. The recovery of lithium from the brine was 94% in the adsorption stage and 88% into the eluate. The lithium grade in the feed brine of 197mg/L was concentrated to 710mg/L in the eluate, or a 3.6X concentration factor. These results exceeded the Company's expectations. The eluate was further concentrated by reverse osmosis to 2,194mg/l.
For the first stage of production, a total volume of 1,196m3 of brine from the Laguna Verde Project was processed at the DLE pilot plant with a total of 14 cycles completed. Each cycle represents a volume of brine being fed first through filtration to remove suspended solids, then into DLE columns which are filled with adsorbent designed to be selective for lithium molecules. Lithium, as lithium chloride, is adsorbed from the brine, before desorption with water to create a purified lithium eluate.
Averaged across the 14 cycles, the recovery rate achieved by adsorption of lithium from the brine was 95% and the recovery rate of desorption from the adsorbent was 93%.
The downstream conversion of lithium chloride solution to battery grade lithium carbonate is well established in the lithium industry. Rather than spending capital on constructing a lithium carbonate conversion plant, the Company decided to partner with Conductive Energy, an Alberta, Canada company to undertake this conversion at its existing facility in Chicago.
An initial 200L batch of concentrated eluate, was shipped to Conductive Energy in May. This batch was used as a trial before setting up the conversion process that would be used for processing larger volumes of eluate produced by our DLE pilot plant into battery grade lithium carbonate. Conductive Energy completed the set-up test-work producing lithium carbonate of 99.75% purity which is battery grade. This process comprises concentration of the concentrated eluate to 18,000mg/l Li by forward osmosis followed by ion exchange to remove the trace impurities of calcium, magnesium and boron and then carbonation with sodium carbonate to produce battery grade lithium carbonate.
On completion of this trial, the Company subsequently shipped batches of concentrated eluate from the pilot plant, with a total of 88m3 shipped by late July, which is equivalent to approximately one tonne of lithium carbonate.
The downstream plant is being commissioned with lithium carbonate production expected in October 2024. This will provide the Company with the capacity to supply significant quantities of battery-grade lithium carbonate samples to potential strategic partners and offtakers to commence product qualification.
Pilot Plant Inauguration
In May, the DLE pilot plant was officially inaugurated in Copiapo with a ceremony attended by various regional authorities, indigenous community leaders, academics, and business representatives. Attendees at the ceremony included the Presidential Delegate of the Atacama Region, Luis Pino, Regional Councillor Javier Castillo; CORFO Director Rosa Roman, CORPROA President Andres Rubilar; miners' union president Joel Carrizo; indigenous community representatives Christian Milla and Ercillia Araya.
Pre-Feasibility Study at Laguna Verde
The PFS will define the optimal configuration for the Laguna Verde project, paving the way for a DFS and discussions with strategic partners. Data from the DLE pilot plant and the drilling and field programmes are being incorporated into the PFS which is being led by Worley, an international engineering services company, from their Santiago office.
As part of that process, in July, Worley completed a plant location study, and CTL has engaged various consultants to conduct studies on port access, water supply, power access and lithium market dynamics. The plant location study identified the ideal configuration for a production facility capable of generating 20,000 tonnes of battery-grade lithium carbonate per annum. This provided a trade-off analysis between locating the entire plant at Laguna Verde versus splitting plant facilities between Laguna Verde and the nearby mining centre of Copiapo. The option of locating the DLE plant and eluate concentration stages at the Laguna Verde site, and the carbonation plant at Copiapo was highly favourable, resulting in the decision to proceed with this option. A concentrated eluate with 6% lithium, the maximum concentration before lithium salts begin to precipitate, will be transported to Copiapo for impurity removal and carbonation stages. This configuration results in a minor increase in volumes transported while taking advantage of Copiapo's well-developed infrastructure and better access to a skilled workforce. According to the plant design, approximately 70% of the operational workforce will be employed at the carbonation plant, therefore locating it in Copiapo provides major advantages in hiring a local work force including diversity outcomes such as greater female participation, while contributing to the local economy. The footprint at the project site, which is at 4,300m above sea level, will be greatly reduced, from power supply, storage, camp and plant facilities, construction phase impacts, and environmental impacts.
The carbonation plant in Copiapo would eventually be expanded to also treat concentrated eluate from the Viento Andino project.
Corporate Developments
Special Lithium Operating Contracts (CEOLs)
Following the declaration of the National Lithium Strategy in April 2023, the Government clarified that it would seek majority control of strategic lithium assets in the Salar de Atacama and Salar de Maricunga but that non-strategic salars could be developed by private sector interests without the need for state company participation. As a result, the Chilean Government requested that the Company withdraw its initial application for CEOLs for Laguna Verde and Viento Andino (formerly Francisco Basin) and apply through the new formal process. CTL's project areas were defined as non-strategic and the Company entered the process in June 2024 on a 100% ownership basis for Laguna Verde and Viento Andino. Applications for RFIs has also been made for three other lithium prospects in joint ventures with other parties which are currently subject to confidentiality.
The Government provided a further update to the CEOL application process at the end of September, prioritising six salt flats for lithium development including Laguna Verde, the Company's flagship project, as having the most favourable conditions to advance lithium exploration and extraction. The Government is expected to announce a further update later this year on additional salt flats for lithium development. The Ministry of Mining will award one CEOL per salt flat with companies only considered if they meet certain criteria. CTL's Expressions of Interest ('RFI') application directly addressed each of these key criteria and as the Company has a dominant licence position in the Laguna Verde basin it is the only Company that meets the mining concession area requirement. The criteria set out by the Government recognises the status of the Company's progress at the Laguna Verde project and puts in place a clear path to award a CEOL and the project's development into production, which is targeted for 2027.
The Chilean Government will now commence indigenous community consultations related to these six salars. Additional to other criteria, CTL has developed a strong relationship with indigenous communities located in the surroundings areas, based on early engagement including a collaborative alliance signed in December 2023 to co-design the project's EIA. The Company is also working with the regional University to promote local opportunities for future projects. The next stage of the CEOL process is for companies to submit CEOL applications by December 31st 2024.
Acquisition of Laguna Verde LicencesIn April 2024, the Company completed the acquisition of 23 Laguna Verde licences, previously subject to an option agreement. This now gives the Company full ownership and control over all 108 mining licences within Laguna Verde. The Board believes this acquisition enhances potential returns to shareholders and de-risks the project as it advances. Full ownership of these licences has also facilitated the planned ASX listing.
Renaming of Francisco Basin and Salar de Atacama
In June the Company announced it had renamed the Francisco Basin project as Viento Andino. This was to clarify the project is located outside a nearby national park of a similar name. During the period, the Company also announced the Salar de Atacama licences have been renamed the 'Arenas Blancas' project to recognise that these fall outside of the Salar de Atacama area considered by Government as 'strategic' to be controlled by the State entity Codelco. These Arena Blanca licences are shown here.
ESG and Community Engagement: In January, the Company hosted an international seminar at the Universidad de Atacama titled 'Lithium: Global Challenges. Local Issues, Decarbonization, Sustainability and Participation' brought together renowned international academics and industry leaders to explore the crucial role lithium plays in global decarbonization and the transition to a green economy.
The Company has also partnered with the University of Atacama, which has seen the installation of the Company's laboratory DLE carousel on the campus. This initiative allows students to conduct their own testing and research, supporting the development of a workforce for the future and regional economic development.
Post-period end, CTL participated in the Centre for Copper and Mining Studies ('CESCO') seminar in Santiago, a prominent annual seminar for the mining sector in Chile and received public support from the local indigenous community for its Laguna Verde project. Local and national media covered the endorsement made by the President of Colla-Ote Communities, Ercilia Araya, as seen in the press cutting below. At the seminar the Company stated if the Government want to see three to four new lithium projects in construction by 2026, Laguna Verde can be one of these projects. To achieve this, the Company continues it engagement with the Chilean Government as part of the CEOLs applications and in a timely manner for the EIA permitting process.
ASX dual-listing: On 20 September the Company announced an extension to the Australian Securities Exchange ('ASX') IPO timetable to allow it to address certain procedural matters raised by ASX. Although it is expected the ASX IPO will complete prior to the year-end, there can be no certainty over the timing. Consequently, as a part of normal practice, the Board continues to consider other available funding options to provide the necessary ongoing working capital and to maintain progress on the Company's various capital programmes as described above.
The ASX is a natural fit as a dual-listing for CTL given the high proportion of its shareholder base designated as Australian domiciled; that base includes Regal Funds as a significant sharesholder which holds approximately 15% of the Company's shares in issue.
It is clear that an Australian listing will broaden the shareholder base, increase the Company's profile in Australia and expose the Company to a deep pool of capital from investors with a good knowledge of investing in resource, and lithium, companies.
The Company will continue to keep the market informed of progress as appropriate.
Board Changes: In addition to my duties as Executive Chairman, I assumed the role of Interim CEO in April following Aldo Boitano's resignation. The search for a new CEO is ongoing, and we look forward to announcing the selected candidate in due course.
Lithium Market: While the international lithium market remains subdued with current oversupply and low prices, there is clear expectation that market conditions will have improved significantly by the time the Company comes into first production in 2027. Some current high-cost production is suspending production, new projects are being deferred whilst demand for lithium for use in batteries, for Electric Vehicles and ESS continues to grow. The expectation is that lithium prices will start to recalibrate to a medium and longer-term price that allows new projects to be financed. Cannacord Genuity forecasts that pricing to be in excess of US$22,500/t lithium carbonate from 2028 onwards. The scoping studies for Laguna Verde and Viento Andino indicate that these projects will be in the lowest quartile of costs and economic even at today's low prices and highly attractive at forecast long-term prices.
The Company has specific advantages in operating in Chile which has a free trade agreement ('FTA') with the USA and preferential trade arrangements with the EU for critical minerals such as lithium. The ability to supply battery grade lithium carbonate directly into these markets without intermediate processing in China will be important for the Company in those markets. Meanwhile Chinese companies are investing in battery supply chain production in FTA countries to maintain access to the US market and will increasingly seek lithium carbonate from FTA compliant countries for those projects. The Company is well placed to take advantage of this dynamic.
Financials: The Company's cash position at the period end, including proceeds received from Loan Notes shortly after period end, was GBP2.1 million.
In the six months to 30 June 2024, CleanTech continued to prioritise expenditure on its capital programmes with the following progress noted:
Laguna Verde: Drilling: five well programme; PFS: engineering and feasibility studies by Worley, Montgomery have been progressed; Hydrogeological modelling: further evolution of both the modelling and as has the planning for pump-test and reinjection programmes; EIA: evaluation of and development of the baseline studies remains continues and remains a key facet of CleanTech's programmes in Chile
DLE: pilot plant construction, testing and commissioning and initial operation costs
Community Relations: programme and other ESG initiatives.
In addition, the acquisition of 100% of the legal and beneficial interest in the licences in Laguna Verde licences previously held under an option agreement was announced in April 2024. Refer Note 12 to the financial statements for further details.
Administration cash costs of approximately GBP1.9 million were incurred during the period (1H 2023: GBP2.0m million). Those cash costs, largely reflect GBP0.5 million for staff costs (1H 2023: GBP0.5 million), GBP0.4 million for promotion public and investor relations and travel (1H 2023: GBP0.7 million), GBP0.8 million for legal and professional support including listing and compliance and insurance costs (1H 2023: GBP0.7 million), the balance of GBP0.2 million comprises a variety of other and general administrative costs (1H 2023: GBP0.1 million).
On 30 June 2024, the Company executed a GBP loan note instrument and an AUD loan note instrument pursuant to which it issued loan notes ('Loan Notes') to subscribers to raise A$3.995 million, approximately GBP2.1 million, to finance working capital and costs associated with ASX admission. Refer Note 11 to the financial statements for further details. Prior to entering into the loan note instruments the Company also terminated an agreement to issue a convertible loan note to a high net worth who failed to pay the subscription monies to the Company despite on-going assurances to the contrary.
To support CleanTech's plans which target initial production from Laguna Verde in 2027 the Board has developed a financial strategy to raise the capital needed. The Company routinely receives approaches from third parties and continues to consider as a part its overall funding strategy. An important tenant of that strategy is the participation and support of strategic partnerships. Although strategic partnership discussions are currently taking pace under non-disclosure agreements, they are expected to progress further once the Laguna Verde PFS is completed and once the initial quantities of battery grade lithium from the DLE pilot plant and downstream processes are available for review.
Outlook: The Company remains well placed to demonstrate the efficacy of DLE to produce battery grade lithium carbonate from Laguna Verde brine and to deliver the PFS later this year. This is a critical step for securing strategic partnerships and future project funding. The aim to deliver battery-grade lithium carbonate through sustainable, low environmental impact production, utilising the DLE process and renewable energy, aligns the Company with the Chilean Government's National Lithium Strategy and criteria outlined in the CEOL applications. We are well positioned to be prioritised amongst the private sector potential projects.
Post the period end, the Company filed applications for its admission to the ASX. Alongside the dual-listing, CleanTech Lithium is seeking to raise funds to support the next stage of its development, including the delivery of a strategic partner, as it progresses towards production.
The Board is excited about the opportunities ahead and remain committed to delivering value for our shareholders, partners, and the communities in which we operate.
Contact:
Steve Kesler
Executive Chairman and Interim CEO
Tel: +44 (0) 1534 668 321
About CleanTech Lithium
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced 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 good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
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