**CleanTech Lithium Secures 40-Year Operating Contract for Laguna Verde Project in Chile**
CleanTech Lithium (AIM: CTL) has finalized a “special operating contract” (CEOL) with Chile’s mining ministry for its Laguna Verde project, marking a significant step in the company’s efforts to enhance investment prospects and accelerate production. The contract, announced on Tuesday, will cover all phases of the project over a licensed area of 153 km² and is expected to last for 40 years.
The Laguna Verde project, which has been in development since 2021, boasts a JORC-compliant resource of 1.9 million tonnes of lithium with average grades of 174 mg/L, making it one of the largest lithium resources outside the Atacama Salar. A 2023 scoping study indicated the potential for a 30-year operation generating 20,000 tonnes of lithium carbonate equivalent per year. CleanTech’s stock rose 4.8% following the news, bringing its market capitalization to approximately £22.3 million ($30 million).
