CleanTech Lithium PLC (LSE:CTL) reported progress on its Laguna Verde lithium brine project in Chile during the six months ended 30 June 2026, including an agreement on contractual terms for a 40-year operating contract, completion of a Pre-Feasibility Study (PFS) and further development of its Direct Lithium Extraction (DLE) process.
The company agreed the contractual terms of a 40-year Special Lithium Operating Contract with Chile’s Ministry of Mining, establishing a framework for the proposed development of Laguna Verde.
CleanTech also completed a PFS for the project, which indicated a pre-tax net present value (NPV) of US$1.37 billion. The study forms part of the company’s transition from resource definition towards project development.
During the reporting period, CleanTech continued work on producing battery-grade lithium carbonate using DLE technology, while progressing the selection of a strategic partner and holding discussions regarding project financing.
The company raised £5.3 million through a fundraising, recovered VAT and converted all outstanding convertible loan notes into equity.
Following the period-end, CleanTech reduced the cash consideration for 23 Laguna Verde concessions from US$35 million to US$14 million, a decrease of US$21 million.
The company also advanced production campaigns targeting high-purity lithium carbonate and continued preparations for a dual listing on the Australian Securities Exchange (ASX).
Further work includes permitting activities and securing financing for the development of Laguna Verde.
CleanTech is focused on developing lithium projects in Chile using DLE technology, with Laguna Verde serving as its principal development asset. The company intends to produce battery-grade lithium carbonate and is pursuing a long-term operating framework alongside strategic partnerships and project funding.
Leave a Reply