2025 is shaping up to be an inflexion point in CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF)’s ambitious plan to become the next major mover in the Chilean lithium sector.
After a good four years of extensive exploration at its primary asset Laguna Verde and multiple drilling campaigns uncovering battery-grade lithium, CleanTech is expected to submit its Special Lithium Operating Contract (CEOL) application to the Chilean government before the end of this year.
With a pre-feasibility study coming in the first quarter alongside a delayed stock listing on the Australian Securities Exchange, CleanTech will then be able to focus its attention on ramping up to production.
Progress
It has already made progress on this front. Earlier this month it successfully produced pilot-scale lithium carbonate through its downstream conversion process.
The process began with the shipment of four tanks containing 88 cubic metres of concentrated brine eluate from CleanTech Lithium’s DLE pilot plant in Copiapó, Chile, to Conductive Energy’s facility in Chicago.
“Years of hard work have led to this important milestone, and it sets the stage for future development with a commitment to supporting the transition to electric vehicles and clean energy,” chairman Steve Kesler said of the milestone.
More milestones are expected to come in the year ahead, while commercial-stage production is anticipated for 2027.
And with Tony Esplin set to take over as chief executive in the new year, CleanTech has a commendable captain to navigate the way.
Veteran hire
Esplin’s CV reveals he has held with senior positions at the likes of New York-listed gold producer Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM) and, most recently, at Toronto-listed Discovery Silver (TSX-V:DSV, OTCQX:DSVSF) Corp, where he served as chief operating officer.
His 30 years as an executive in the mining business have taken him everywhere from Australia and Southeast Asia to Canada and Latin America.
He also spent three years as executive managing director of PNG operations at Barrick Niugini- a joint venture between Canadian gold giant Barrick and Chinese mining multinational Zijin Mining.
Fluent in Spanish, Esplin is now returning to South America to oversee CleanTech’s build out of the Laguna Verde lithium mine in Chile.
“As a fluent Spanish speaker, he will also be in prime position to engage with the Chilean Government, regulatory bodies and especially the local communities whose continuing support for our projects will be critical to their success,” said CleanTech’s executive chairman and interim CEO Steve Kesler.
Aussie national Esplin said he is “looking forward to the opportunity to work in Latin America again”.
‘Impressive’ results
As a veteran of the mining industry, what is Eslin’s take on CleanTech’s prospects?
“I am impressed at the results I have seen from the Company's DLE (Direct Lithium Extraction) pilot plant and downstream processing, as well as the innovative community relations programmes where the company has entered into alliances with local communities and universities,” he stated.
For the record, DLE is an innovative technology used by CleanTech to extract lithium from brine resources more efficiently, sustainably, and with less environmental impact compared to traditional methods like, say, evaporation ponds.
It ticks all the sustainability boxes while allowing for the extraction of lithium from unconventional sources.
CleanTech’s share price took a bit of a pummeling this year, although this was reflective of tumbling lithium prices.
However, just as 2025 is shaping up to be CleanTech’s inflexion point, lithium prices could also be primed to climb.
“It is well known that the lithium market is going through a challenging time, but all analysts agree that the lithium price will recover in due course to meet the growing international demand for EVs and other forms of battery storage,” said Esplin.
CleanTech shares are currently swapping at 19.45p with a £33.5 million market capitalisation.