CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) said its appeal to enter the streamlined process for a Special Lithium Operating Contract for its Laguna Verde project was rejected by Chile’s Ministry of Mines.
It stated that the Ministry of Mines determined that CleanTech Lithium's application did not meet the specific technical thresholds to enter the streamlined process.
"Despite this outcome, the company remains in close dialogue with the Ministry and will now pursue the public tender process for CEOL allocation,” chief executive Ignacio Mehech said in a statement.
“CleanTech Lithium believes it is best positioned to be awarded the CEOL for Laguna Verde and we will be keeping our stakeholders informed as we progress through the next stage of the application."
Mehech added: “The company remains eligible to take part in the upcoming public tender process and expects more details to be available once the indigenous consultation for Laguna Verde has finished in the coming months.”
“Importantly, CleanTech Lithium holds the dominant licence position at Laguna Verde and is the only company to have conducted extensive exploration and technical studies, significantly de-risking the project.”
The CleanTech Lithium boss, meanwhile, highlighted that over US$30 million has already been invested in its Chilean operations, and the firm has co-signed agreements with local indigenous communities.
“CleanTech Lithium has demonstrated its financial, technical and social commitment to developing high-quality lithium assets that align with Chile's strategic goals for the National Lithium Strategy and advancing the country's sustainable lithium industry,” he added.