CleanTech Lithium PLC (‘CleanTech Lithium’ or ‘CleanTech’ or the ‘Company’) (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, is pleased to announce it has submitted its application (the ‘Application’) for a Special Lithium Operating Contract (‘CEOL’) for Laguna Verde via its Chile-based subsidiary Atacama Salt Lakes SpA (‘ASL’). This submission to the Chilean Government to enter the streamlined process is well ahead of the deadline of 30th January 2026. The award of a CEOL will mean the recipient can commercially produce lithium from the specified project for the duration of the economic life of the project.
Highlights:
ASL has submitted its Application in line with the Ministry of Mining’s criteria to enter the streamlined, direct negotiation process for the Laguna Verde CEOL.
ASL’s Application confirms that it holds well over 80% of the mining concessions in the Chilean Government’s defined CEOL polygon area and is supported in the Application by a consortium partner which the Company believes will enable CTL to comfortably meet the financial capability criteria.
The Application was made well ahead of the submission deadline of 30th January 2026. The Ministry of Mining will now start the review process of the Application and the Company will be in regular dialogue with the Ministry during that time.
The legal case related to certain Laguna Verde licences, announced on 1st December 2025, will not impact ASL’s CEOL Application in any way.
Referencing the RNS published on 15th January 2025, the Chilean government set out criteria for applicants to apply for a CEOL at selected salars, including Laguna Verde, under the National Lithium Strategy. These criteria include holding >80% of mining concessions for the proposed polygon area, experience in the mining and lithium extraction industry and audited financial accounts with a minimum accounting equity of USD$30 million held by the applicant or as a consortium.
CTL holds >97% of the relevant mining concessions of the polygon area and so the Company does not expect any applications from third parties for this CEOL. ASL has also formed a consortium with a partner (the ‘Partner’), who requested anonymity, to comfortably satisfy the financial requirements of the Chilean Government. The Partner, who is an experienced minerals company, will in addition to receiving an agreed fee, acquire, for a nominal amount, a minority shareholding in ASL (significantly less than 0.01%) at the time of the award of the Laguna Verde CEOL. CTL will have the exclusive right to require the Partner to transfer that shareholding to another party of CTL’s choosing at any time for the same price as the acquisition. It is intended that this transfer will involve a strategic partner or partners at some point in 2026. In the meantime, as part of the Application, the Partner has also acted as a joint guarantor for the project’s financial obligations for the period that they hold that minority stake in ASL. CleanTech Lithium believes confidently it meets the criteria to enter the CEOL streamlined process, leading to the award of the CEOL, and is expecting to receive feedback on its Application in February 2026.
Ignacio Mehech, Chief Executive Officer of CleanTech Lithium, commented: ‘We believe we are the only applicant eligible to apply for the CEOL at Laguna Verde under the Ministry’s streamlined process. We hold well over the 80% of the mining concessions in the CEOL polygon required by the Ministry, we have formed a consortium with a financially strong partner, and we bring extensive experience in the mining and lithium extraction industry, both in Chile and globally. Our application has been submitted a month before the deadline, and we can expect to the hear back from the Government in February 2026, if not before. This is a pivotal moment in CleanTech Lithium’s pathway to developing a high-quality lithium project at Laguna Verde.
‘By forming a consortium, ASL is supported in its CEOL application by the Partner which will enable CTL to comfortably meet the financial capability criteria set by the Ministry of Mining. We are very grateful for the support of the Partner under commercial arrangements agreeable to both parties.
‘The Company believes that the ongoing legal case relating to certain Laguna Verde licences will have no impact on ASL’s CEOL application given these licences are held in a separate CTL subsidiary which is not part of ASL’s CEOL application. The licences are not required to enable CTL to meet the minimum 80% threshold for mining concessions in the proposed polygon area.
‘Subject to being admitted into direct negotiations within the streamlined process, CTL is preparing to publish the PFS for Laguna Verde. This is being led by international recognised engineering firm Worley and will contain the operational and economic factors to develop a high-quality lithium project at Laguna Verde using low-impact extraction technologies. This will also enable the Company to initiate more meaningful conversations with potential strategic partners in the coming months and we will keep the market informed of progress in due course.’
For further information contact:
CleanTech Lithium PLC
Ignacio Mehech/Gordon Stein/Nick Baxter
Office: +44 (0) 1534 668 321
Mobile: +44 (0) 7494 630 360
Chile office: +562-32239222
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish/Asia Szusciak
+44 (0) 20 7628 3396
IStar Capital Capital Limited (Joint Broker)
Daniel Fox-Davies
+44 (0) 20 3884 8450
daniel@istar.capital
Canaccord Genuity (Joint Broker)
James Asensio
+44 (0) 20 7523 4680
Beaumont Cornish Limited (‘Beaumont Cornish’) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production.
CleanTech Lithium is committed to utilising Direct Lithium Extraction (‘DLE’) with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com
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