Proactive Investors - CleanTech Lithium (LON:CTL) said it will be resubmitting its applications for Special Lithium Operating Contracts (CEOLs) for the Laguna Verde and Francisco Basin projects in Chile following a meeting with the country’s Mining Ministry last week.
Under new guidelines in Chile, from April 2024 private companies have to “express interest” in developing non-strategic salars for lithium production., a classification that CTL says applies to its assets,
Resubmission has no impact on the expected project timeline, said CleanTech Lithium (CTL) adding it expects to receive approval for the updated projected applications and had made only minor changes to be made to the previous submission
Aldo Boitano, chief executive, commented: “We were delighted to attend this meeting with the Mining Ministry so soon after the new approach had been announced by the Government, one of the first companies to have such conversations.
“Under this new guidance from the Government, we will proceed with our project's CEOL applications and continue our constant coordination with the government to develop our projects into production.
"Following the resubmission, consultations with local communities hosted by the Government will commence. CTL has an established partnership with the local communities and our approach to early engagement, we believe, will help speed up the CEOL approval process."
Boitano added the submissions would run in tandem with the ongoing Pre-Feasibility Study for Laguna Verde and the Environment Impact Assessment, both of which are critical milestones for 2024.
“The Government expects four new lithium projects to be in production in 2026 and our Laguna Verde is among the most advanced new projects in Chile".
CTL already "expressed interest" by submitting the CEOLs in September 2023 for Laguna Verde and Francisco Basin with unified support from the local communities in the region.