CleanTech Lithium secures 'promising' mining properties in Argentina
Lithium exploration and development company CleanTech Lithium has secured "promising" mining properties located in the southern part of the Salar de Antofalla – a major salar in Argentina only 80 km from the company's flagship Laguna Verde project.
The Aim-listed company has signed two option agreements to acquire, in full, the Genoveva and Sal de Litio 1 properties, which it collectively refers to as the Antofalla project.
The company points out that due diligence on the properties was completed by Argentina law firm Beretta Godoy and that the mining licences comprising the properties are perpetual as long as their good standing requirements are complied with.
Over the first year, scheduled payments totalling $525 000 will be made to the unnamed sellers. This will be followed by further payments totalling $1.4-million between October 2027 and May 2031. CleanTech will use existing cash resources to fund the payments.
“We are excited by the addition of this project in Argentina. Salar de Antofalla is the largest undeveloped Salar in Argentina and is strategically located very close to our flagship Laguna Verde project, as well as to [our] Viento Andino [project]. We expect these three projects to have significant development synergies, as well as potentially benefitting from sharing a centralised conversion facility in Copiapó.
"The Laguna Verde project remains our main focus; however, the addition of the Antofalla project provides strong long-term value enhancement for our shareholders,” says CleanTech CEO Ignacio Mehech.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
