In a recent sit-down with Thomas Warner of Proactive, Aldo Boitano, the chief executive of Cleantech Lithium, shed light on the company's ambitious projects and future prospects.
Cleantech, a Chile-focused lithium developer, has been making headlines with its key projects, Francisco Basin and Laguna Verde.
This comprehensive Q&A article delves into the company's strategic plans, recent developments, and its journey from a junior company to a significant player in the lithium industry.
Thomas Warner (TW): You've had plenty of news over the last couple of weeks, particularly regarding the scoping study at Francisco Basin. Could you elaborate?
Aldo Boitano (AB): Absolutely, it's been a busy period for us. The scoping study at Francisco Basin reveals the high calibre of our second flagship project.
We have two major projects, Francisco Basin and Laguna Verde, both located at 4,400 metres in the interior of Copiapó, at the southern tip of the lithium triangle.
The study shows positive economics for the Francisco Basin, and we plan to expand the resource by conducting more drilling later this year.
TW: What does the positive economics of Francisco Basin mean for Cleantech Lithium?
AB: The positive economics indicate that we're on the right track. It validates our approach and gives us the confidence to proceed with further investments in drilling and resource expansion. It's a significant milestone that brings us closer to production.
TW: You also have some exploration projects. What updates can you share about those?
AB: We've been focusing on two projects, Llamara and Salar de Atacama. Salar de Atacama basin is the largest salt flat in the world and holds 37% of the reserve base of the metal.
Combined with Laguna Verde and Francisco Basin, which have a net present value of over $3 billion. We're also conducting initial drilling and exploration on our greenfield projects, Salar de Atacama being one of them.
These projects are at different elevations, allowing us to work on them while waiting for winter to pass at our flagship locations.
TW: Could you tell us more about the significance of Salar de Atacama?
AB: Salar de Atacama is crucial because it holds a significant percentage of the world's lithium reserves. Its potential contribution to our portfolio cannot be overstated. It complements our flagship projects and adds another layer of value to our company.
TW: You recently submitted your operating contracts to the Chilean government. Any updates on that?
AB: Yes, this is a crucial step as we move towards production. We've submitted what are called "Special Contracts of Lithium Operation" to the Chilean government. We're the first private company to do so, and the submission has been well-received. This is part of our ongoing process to transition from a stage where we have resources to actual production. The timeline for production is 2026 for Laguna Verder and 2027 for Francisco Basin.
TW: How does this submission set you apart from other companies in the industry?
AB: Being the first private company to submit these contracts gives us a competitive edge. It shows our commitment to adhering to regulations and sets a precedent for operational excellence in the industry.
TW: How satisfied are you with the current performance of the business?
AB: We're very pleased with how our projects have been advancing. We're meeting all legal requirements and are transitioning from a junior company to a large mining company. This is a significant milestone for us, and we're excited about the future.
TW: What are the next steps for Cleantech Lithium?
AB: The next steps involve further drilling to expand our resources, especially at Francisco Basin. We're also focusing on advancing our greenfield projects and moving closer to the production stage for our flagship projects.
