CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has said it will appeal a decision by the Chilean government to reject its application for a streamlined lithium production permit at its Laguna Verde project.
The London-listed explorer had sought approval for a Special Lithium Operating Contract (CEOL). Instead, the Ministry of Mining said that the application must go through a short public tender process.
CleanTech now has five business days to lodge an appeal under the process set out by Chilean authorities.
The company said it believes it can meet the required criteria, referencing an earlier regulatory update in January, and plans to issue a further statement in due course.
CEO Ignacio Mehech said: "While not the decision we expected, we will be exercising our right to appeal within the five-day window provided.
"We believe CleanTech can meet the criteria set out by the Government. The company has made significant investments in its Chile projects through extensive drilling campaigns, pilot plant development, and detailed technical studies, while also building strong, transparent relationships with local indigenous communities.
"We have undertaken by far the most extensive resource evaluation and process development work for a DLE project in Chile, in support of the Chilean government's national lithium strategy, and are fully committed to continuing that work. We will provide a further update once we receive a response to our appeal."