17th Oct 2022 10:49
(Alliance News) - CleanTech Lithium PLC on Monday said it was pleased with progress this year as it looks to start fieldwork at all three of its projects.
CleanTech Lithium is a London-based, Chile-focused exploration and development company. It aims to produce material quantities of battery grade lithium by 2024, thereby offering the European electric vehicle market a green lithium supply solution.
Following the end of the Chilean winter break period, the company said mobilisation of equipment to its Laguna Verde project had started, which will enable the construction of access roads, as well as the completion of sampling for the well resource drill program that began earlier in the year.
Similar developments occurred at Francisco Basin, with mobilisation targeted for the week of October 26. CleanTech plans to complete three additional wells in 2022, with the drilling programme recommencing from FB02.
Meanwhile, a site visit was conducted at Llamara in early September to understand the extent of local services and infrastructure available for the project. A geophysics program should begin soon, and will inform the location of an exploration drill hole for the current quarter, pending licence grants.
In other news, CleanTech said that its cooperation agreement with Beyond Lithium has been terminated in accordance with contract terms. The company has transitioned to working with SunResin as its primary processing partner.
It also highlighted that its current focus on renewable energy processing aligns with the government's agenda for the lithium industry, outlined in the "Let's Invest in Chile" action plan announced in early October.
The investment plan, spearheaded by President Gabriel Boric, includes six policy positions, including tax incentives for private investment, improving access to financing, and promoting public-private partnerships for investment.
CleanTech said it continues "to maintain a very active and positive dialogue with representatives of the government", with the aim of obtaining production permits to enable lithium production to begin at its projects from 2025 onwards.
CleanTech shares were trading 1.8% lower at 55.38 pence each in London on Monday morning.
By Holly Beveridge; [email protected]
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