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Highlights
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Government Prioritization: CleanTech Lithium PLC's Laguna Verde lithium project is among six salt flats prioritized by the Chilean government for development.
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Application Process: The company submitted a Request for Interest (RFI) in June and is preparing to apply for a critical exploration permit (CEOL) by year-end.
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Positive Project Conditions: The Chilean Ministry of Mining recognizes Laguna Verde as having favorable conditions for lithium production, emphasizing the project's potential.
Description
CleanTech Lithium PLC (LSE:CTL) has announced that its Laguna Verde lithium project has been prioritized by the Chilean government, highlighting its importance in the country’s lithium development strategy. This designation places Laguna Verde among six key salt flats earmarked for potential production enhancement, underscoring the project's strategic value.
In June, CleanTech Lithium submitted a Request for Interest (RFI) to initiate the development process for Laguna Verde. The next critical step for the company involves applying for the Exploration Permit (CEOL), which must be completed by the end of the year. This permit is essential, as the Chilean Ministry of Mining will grant one CEOL per salt flat to companies that fulfill specific criteria. CleanTech Lithium asserts that it has met these criteria as outlined in its RFI submission.
Steve Kesler, executive chairman of CleanTech Lithium, expressed satisfaction with the Chilean government's progress on the CEOL process, emphasizing the supportive measures for the lithium industry in Chile. Kesler noted that the prioritization of Laguna Verde reflects its favorable conditions for lithium production. The company's RFI highlighted the significant commitments already made toward the project, including advancements in direct lithium extraction (DLE) technologies and strong engagement with local indigenous communities.
The criteria established by the government acknowledge CleanTech Lithium's progress at the Laguna Verde project and provide a clear pathway toward the awarding of a CEOL. The company aims to advance the project into production, with timelines suggesting readiness for operational status in 2027. This development reinforces CleanTech Lithium's position in the rapidly evolving lithium market, aligning with global demands for sustainable energy solutions.
