Proactive Investors - CleanTech Lithium (LON:CTL) has responded to comments made on Thursday by Chile's President Gabriel Boric in relation to the country's lithium industry.
Boric announced plans to nationalise the country's lithium industry in a mover that eventually transfer control of Chile's lithium operations from industry giants SQM (NYSE:SQM) and Albemarle (NYSE:ALB) to a state-owned company.
CleanTech said while these appear to be preliminary comments, it welcomed the focus placed on the sustainable development of lithium, community relations and the need for private investment to support the lithium industry in Chile.
They were in line with CTL's own strategy for the sustainable development of lithium through direct lithium extraction (DLE) technology, combined with renewable energy.
CleanTech added it is not involved in the salt flats of the Atacama an area President Boric highlighted nor does it use evaporation ponds but DLE technology.
In addition, plans for the development of public-private partnerships have been expected for some time and CTL has been in regular and open dialogue with the Government of Chile and state entities, it said.
In these discussions, CTL said it had 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.
CleanTech has lithium projects in Chile at Laguna Verde, Francisco Basin and Llamara.
Shares dropped 18% to 45p.
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