Reaction to Comments by Chile's President Boric

RNS Number : 0869X

CleanTech Lithium PLC

21 April 2023

 

21 April 2023

CleanTech Lithium PLC

("CleanTech Lithium", "CTL" or the "Company")

Reaction to Comments by Chile's President Gabriel Boric

The Board of CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTC:CTLHF), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, notes the co mments made on Thursday by Chile's President Gabriel Boric in relation to the Country's lithium industry.

The Board would like to emphasise that while these appear to be preliminary comments, it welcomes the focus placed on the sustainable development of lithium, community relations and the need for private investment to support the lithium industry in Chile. These comments are in-line with CTL's own strategy, for the sustainable development of lithium through direct lithium extraction ("DLE") technology, combined with renewable energy, in coordination with the local region and community.

The Board also notes that the focus of the comments made by President Boric related to the salt flats of the Atacama, where the Company does not operate and where the extraction process is very different to that chosen by the Company, being evaporation ponds as opposed to direct lithium extraction.  

The changes proposed to the Lithium industry in Chile, with the development of public-private partnerships, have been expected for some time and the Board and management of CTL have been in regular and open dialogue with the Government of Chile and state entities, through which the Company has been given regular assurances in relation to its development plans, especially through the use of environmentally friendly DLE technology. The Company also has an active programme of working with local communities in accordance with the preliminary comments on the new Lithium policy.

The government of Chile is expected to make a full statement in relation to its plans for the Country's Lithium industry later today, at which point the Company will provide a further update, as necessary.

For further information contact:
CleanTech Lithium PLC
Aldo Boitano/Gordon Stein	Jersey office: [phone] Chile office: [phone]
	Or via Celicourt
Celicourt Communications	[phone]
Felicity Winkles/Philip Dennis/Ali AlQahtani	[e-mail]
Dr. Reuter Investor Relations Dr. Eva Reuter Harbor Access - North America Jonathan Paterson/Lisa Micali Porter Novelli - Chile Florencia Cummins Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak	[phone] [phone] [phone] [e-mail] [phone]
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies Canaccord Genuity Limited (Joint Broker) James Asensio Gordon Hamilton	[phone] [e-mail] [phone]

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTC:CTLHF) is an exploration and development company, advancing the next generation of sustainable lithium projects in Chile.  Proudly sustainable, committed to net-zero, our mission is to produce material quantities of battery grade, carbon-neutral lithium using sustainable Direct Lithium Extraction technology, powered by clean energy, we plan to be the greenest lithium supplier to the EV market.

CleanTech Lithium has three prospective lithium projects - Laguna Verde, Francisco Basin and Llamara - located in the lithium triangle, the world's centre for battery grade lithium production. The Laguna Verde and Francisco Basin projects are situated within basins entirely controlled by the Company, which affords significant potential development and operational advantages. Llamara is the Company's latest greenfield project, which offers material potential upside at a low initial cost. All three projects have direct access to excellent 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. Direct Lithium Extraction is a transformative technology which removes lithium from brine, with higher recoveries and purities. The method offers short development lead times, low upfront capex, with no extensive site construction and no evaporation pond development so there is no water depletion from the aquifer or harm to the local environment.

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