With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.
As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government's support of the McDermitt Lithium Project, the US Department of Energy's Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee's subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE's Critical Materials Innovation Hub.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.
The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled "Immediate Measures to Increase American Mineral Production", underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.
As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security
These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.
An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project's potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.
The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.
These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor's degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.
Game-changing, economically significant lithium resource for North American battery supply chain
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
Redcloud is a Canadian-based investor relations group specialising in the junior resources sector
Jindalee Lithium Limited (ASX: JLL) (OTCQX: JNDAF) (Jindalee, the Company) is pleased to announce that the Company will participate in both the Prospectors and Developers Association of Canada (PDAC) Convention and the Pre-PDAC Mining Showcase, hosted by Redcloud Financial Services Inc. (Redcloud), a globally oriented resource focused financial services platform.
Jindalee can be found at booth 2606 in the Investors Exchange Exhibition Room at the PDAC Convention which will be attended by Jindalee's Chief Executive Officer, Ian Rodger. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, 2 March 2025 until Wednesday, 5 March 2025 at the Metro Toronto Convention Centre in Ontario, Canada.
Jindalee is also participating in Redcloud's Pre-PDAC Mining Showcase at the Omni King Edward Hotel in Toronto over Thursday 27 and Friday, 28 February 2025. Ian will be presenting at the Pre-PDAC Mining Showcase at 4.00pm local time on Friday, 28 February 2025. Jindalee will also be available to engage with investors in one-on-one meetings at the Pre-PDAC Mining Showcase and encourages interested investors to register for the event.
Jindalee looks forward to updating the North American mining and investment communities on progress at its 100% owned McDermitt Lithium Project which hosts one of the largest lithium resources in the U.S. The Pre-Feasibility Study at McDermitt, released in November 2024, outlines a highly robust multi-generational battery chemicals project1.
To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025
For more information and to register for the Pre-PDAC Conference please visit: https://redcloudfs.com/prepdac2025/
Authorised for release by the Jindalee Board of Directors. For further information please contact:
| LINDSAY DUDFIELD | IAN RODGER |
| Executive Director | Chief Executive Officer |
| T: + 61 8 9321 7550 | T: + 61 8 9321 7550 |
| E: enquiry@jindaleelithium.com | E: enquiry@jindaleelithium.com |
About Jindalee
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support America's energy security and domestic supply of critical minerals. The Company recently completed a Pre-Feasibility Study (PFS) confirming McDermitt's scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy and Department of Defense. As a deeply undervalued lithium developer, Jindalee presents a compelling investment opportunity ahead of the next lithium market upcycle.
Competent Persons Statement
The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Jindalee Lithium Limited referenced in this report and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Jindalee Lithium Limited's (Jindalee's) current expectations, estimates and projections about the industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee's future performance. When used in this document, the words such as "anticipate", "could", "plan", "estimate", "expects", "seeks", "intends", "may", "potential", "should", and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forward-looking statements.
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1Jindalee Lithium ASX announcement 19/11/2024: "McDermitt Lithium Project Pre-Feasibility Study"
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241723
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Galan Lithium’s investment appeal is driven by its Hombre Muerto West project, a top 20 global lithium resource featuring high-grade, low-cost lithium brine concentrate, on track for near-term production in Argentina’s renowned mining region.
Argentina is no stranger to lithium mining. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than 60 percent of the world’s lithium resources. Argentina has the world’s second greatest endowment of lithium reserves (17 Mt), concentrating lithium operations in the provinces of Jujuy, Salta and Catamarca.
Demand for lithium is forecasted to grow from approximately 1 Mt LCE in 2024 to around 3Mt in 2030, a compound annual growth rate of around 20 percent. Argentina has committed to $7 billion worth of investment for lithium production with strong growth projected for exports at $1.1 billion in 2023.
Galan Lithium (ASX:GLN,FSX:9CH) is an Australia-based international mining development company focused on its high-quality lithium brine projects in Argentina – Hombre Muerto West and Candelas. The company also holds a highly prospective lithium project in Australia – Greenbushes South.
The company’s flagship Hombre Muerto West (HMW) project hosts some of Argentina’s highest grade and lowest impurity levels with an inventory of 8.6 million tons (Mt) contained LCE @ 859 mg/L lithium, with 4.7 Mt contained LCE @ 866 mg/L Li in the measured category. The 100-percent-owned property is strategically located near Rio Tinto’s recently acquired Arcadium Lithium project, highlighting its position within a highly sought-after lithium region
Galan has signed a commercial agreement with the Catamarca Government supporting the grant of permits to enable the commercialisation of lithium chloride concentrate from HMW to be sold locally or exported internationally.
In August 2024, Galan entered into a memorandum of understanding with Chengdu Chemphys Chemical Industry Co. for an offtake prepayment agreement for the HMW project. Once a definitive agreement is executed, Chemphys will purchase a total of 23,000 tonnes lithium carbonate equivalent, as a lithium chloride product, over the first five years of production from Phase 1 of the HMW project. Chemphys will also provide Galan with an offtake prepayment facility to facilitate the continued development of Phase 1 of the HMW project.
The company also executed binding agreements with Authium Limited, securing a comprehensive funding and offtake package to support initial production from the Hombre Muerto West (HMW) Project. Under the agreements, Authium will fund, supply, and operate processing technology at HMW, significantly reducing Galan’s upfront capital and operating costs.
Catamarca Governor Raúl Jalil and Galan Lithium Managing Director Juan Pablo Vargas de la Vega in Catamarca.
In September 2024, Galan successfully completed a capital raising of AU$20 million, including a fully-subscribed Entitlement Offer of $13.3m, reflecting strong shareholder support and confidence in the Company’s strategic direction and the development of its HMW project
In addition to Hombre Muerto West, Galan Lithium’s portfolio includes several strategically positioned projects that complement its flagship asset:
Backed by a highly experienced management team, Galan is well-positioned to advance these complementary projects while maintaining its primary focus on developing HMW into a world-class lithium production hub.
The 100-percent-owned Hombre Muerto West project is a large land property that sits on the west coast of the Hombre Muerto salar in Argentina, the second-best salar in the world for the production of lithium from brines. The property also leverages strategic positioning near Arcadium Lithium, recently acquired by Rio Tinto.
Galan has increased HMW’s mineral resource to 8.6 Mt contained LCE @ 859 mg/L lithium (previously 7.3 Mt LCE @852 mg/L lithium), one of the highest grade resource estimates declared in Argentina. HMW’s measured resource is now at 4.7 Mt contained LCE @ 866mg/L lithium. Inclusion of the Catalina tenure adds ~1.3 Mt LCE to the HMW resource.
The pilot plant at HMW has validated the production of lithium chlorine concentrate, adding reagents to eliminate impurities, and generating a concentrate at 6 percent lithium. The plant comprises pre-concentration ponds, a lime plant, a filter press and concentration ponds.
Pilot Plant at HMW
Construction for Phase I has already commenced for 5.4 ktpa LCE production at HMW, and aims to deliver lithium chloride production in H2 2025. The fourth long-term pumping test (PBRS-03-23) results at HMW record an outstanding lithium mean grade of 981 mg/L - the highest reported grade from a production well in the Hombre Muerto Salar.
In October 2024, Galan announced 45 percent project completion with pond construction at 76 percent and project execution is advancing as planned.
A definitive feasibility study (DFS) for phase 2 shows a 20.85 ktpa LCE operation at HMW, targeting high-quality, 6 percent concentrated lithium chloride product (equivalent to 12.9 percent lithium oxide or 31.9 percent LCE) in 2026. The DFS also indicated phase 2 will deliver a post-tax NPV (8 percent) of US$2 billion, IRR of 43 percent and free cash flow of US$236 million per year. Phase 2 provides an exceptional foundation for significant economic upside in phases 3 and 4, targeting 60 ktpa LCE production by 2030.
Galan has entered into a memorandum of understanding with Chengdu Chemphys Chemical Industry Co. for a prepayment offtake agreement. Once a definitive agreement is executed, Chemphys will purchase a total of 23,000 tonnes of lithium carbonate equivalent, as a lithium chloride product, over the first five years of production from Phase 1 of the HMW project.
Chemphys will also provide Galan with a US$40 million offtake prepayment facility to facilitate the continued development of the HMW project.
The company has also signed binding agreements with Authium Limited, establishing a comprehensive funding and offtake package to support initial production at the Hombre Muerto West (HMW) Project. As part of the agreement, Authium will fund, supply, and operate the processing technology at HMW, materially lowering Galan’s upfront capital requirements and ongoing operating costs.
Galan now has 100 percent full ownership of the Catalina tenement that borders the Catamarca and Salta Provinces in Argentina. The newly secured Catalina tenure has a strong potential to significantly add to the existing HMW resource. The tenure also covers the Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, Deseo I and Deceo II tenements.
The 100-percent-owned Greenbushes South lithium project is located near Perth, Western Australia, and is three kilometers south of the world-class Greenbushes lithium mine, managed by Talison Lithium. The Greenbushes South tenements can be found along the Donnybrook-Bridgetown Shear Zone geologic structure, which hosts the lithium-bearing pegmatites at the Greenbushes Lithium Mine.
Greenbushes South covers nearly 315 square kilometers, and hosts elevated pathfinder elements with well-defined anomalies adjacent to the property.
Richard Homsany is an experienced corporate lawyer and has extensive board and operational experience in the resources and energy sectors. He is the executive chairman of ASX-listed uranium exploration and development company Toro Energy Limited, executive vice-president of Australia of TSX-listed uranium exploration company Mega Uranium and the principal of Cardinals Lawyers and Consultants, a boutique corporate and energy and resources law firm. He is also the chairman of the Health Insurance Fund of Australia (HIF) and listed Redstone Resources and Central Iron Ore and is a non-executive director of Brookside Energy Homsany’s past career includes time working at the Minera Alumbrera Copper and Gold mine located in the Catamarca Province, northwest Argentina.
Juan Pablo Vargas de la Vega is a Chilean/Australian mineral industry professional with 20 years of broad experience in ASX mining companies, stockbroking and private equity firms. JP founded Galan in late 2017. He has been a specialist lithium analyst in Australia, has also operated a private copper business in Chile and worked for BHP, Rio Tinto and Codelco.
Daniel Jimenez is a civil and industrial engineer and has worked for a world leader in the lithium industry, Sociedad Química y Minera de Chile, for over 28 years. He was the vice-president of sales of lithium, iodine and industrial chemicals where he formulated the commercial strategy and marketing of SQM’s industrial products and was responsible for over US$900 million worth of estimated sales in 2018.
Terry Gardiner has 25 years’ experience in capital markets, stockbroking and derivatives trading. Prior to that, he had many years of trading in equities and derivatives for his family accounts. He is currently a director of boutique stockbroking firm Barclay Wells, a non-executive director of Cazaly Resources, and non-executive chairman of Charger Metals NL. He also holds non-executive positions with other ASX-listed entities.
María Claudia Pohl Ibáñez is an industrial civil industrial engineer with extensive experience in the lithium production industry. Until recently, she worked for world leader in the lithium industry Sociedad Química y Minera de Chile (NYSE:SQM, Santiago Stock Exchange:SQM-A, SQM-B) for 23 years, based in Santiago, Chile. During her time at SQM, she held numerous senior leadership roles including overseeing lithium planning and studies. Ibáñez brings significant lithium project evaluation and operational experience whilst joining the board at a critical juncture in Galan’s journey to becoming a significant South American lithium producer. Since leaving SQM in late 2021, Ibáñez has been managing partner and general manager of Chile-based Ad-Infinitum, a process engineering consultancy, with a specific focus on lithium brine projects under study and development, and the associated project evaluations.
Ross Dinsdale has 18 years of extensive experience across capital markets, equity research, investment banking and executive roles in the natural resources sector. He has held positions with Goldman Sachs, Azure Capital and more recently he acted as CFO for Mallee Resources. He is a CFA charter holder, has a Bachelor of Commerce and holds a Graduate Diploma in Applied Finance.
Executing a well-defined project development strategy for its lithium assets and advancing Direct Lithium Extraction (DLE), CleanTech Lithium is poised to become a key player in an expanding batteries market.
CleanTech Lithium (AIM:CTL,FWB:T2N) is a resource exploration and development company with four lithium assets with an estimated 2.72 million tons (Mt) of lithium carbonate equivalent (LCE) in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine.
Lithium demand is soaring as a result of a rapidly expanding EV market. One study estimates the world needs 2 billion EVs on the road to meet global net-zero goals. Yet, the gap between supply and demand continues to widen. As the world races to secure new supplies of critical minerals, Chile has emerged as an ideal investment jurisdiction with mining-friendly regulations and a skilled local workforce to drive towards a clean green economy. Chile is already the biggest supplier of copper and second largest supplier of lithium.
With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car manufacturers looking to secure a cleaner supply chain.
Laguna Verde is at pre-feasibility study stage targeted to be in ramp-up production from 2027. Laguna Verde has a JORC resource estimate of 1.8 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.
The lead project, Laguna Verde, will be developed first, after which Veinto Andino will follow suit using the design and experience gained from Laguna Verde, as the company works towards its goal of becoming a significant green lithium producer serving the EV market.
The company is carrying out the necessary environmental impact assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be included in the assessments. The Company has signed agreements with the three of core communities to support the project development.
DLE Pilot Plant Inauguration event held in May 2024 with local stakeholders and indigenous communities in attendance
The company also has two prospective exploration assets - the Llamara project and Salar de Atacama/Arenas Blancas project. Llamara project is a greenfield asset in the Antofagasta region and is around 600 kilometers north of Laguna Verde and Veinto Andino. The project is located in the Pampa del Tamarugal basin, one of the largest basins in the Lithium Triangle.
Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.
CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the eco-friendly DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.
CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. To date, the company has completed the first stage of production from the DLE pilot plant producing an initial volume of 88 cubic metres of concentrated eluate – the lithium carbonate equivalent (LCE) of approximately one tonne over an operating period of 384 hours with 14 cycles. Results show the DLE adsorbent achieved a lithium recovery rate of approximately 95 percent from the brine, with total recovery (adsorption plus desorption) achieving approximately 88 percent. The Company’s downstream conversion process is successfully producing pilot-scale samples of lithium carbonate . As of January 2025, the Company is producing lithium carbonate from Laguna Verde concentrated eluate at the downstream pilot plant - recently proven to be high purity (99.78 percent). Click for highlights video.
CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company toward its goal of producing green lithium for the EV market. Expertise includes geology, lithium extraction engineering and corporate administration.
The 217 sq km Laguna Verde project features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset.
CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.
The Llamara project is one of the largest greenfield basins in the Lithium Triangle, covering 605 square kilometers in the Pampa del Tamarugal, one of the largest basins in the Lithium Triangle. Historical exploration results indicate blue-sky potential, prompting the company to pursue additional exploration.
The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project
Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.
Ignacio Mehech brings over a decade of senior leadership experience in the lithium and mining sectors. During his seven-year tenure at Albemarle—the world’s largest producer of battery-grade lithium—he spent the last three years as Country Manager in Chile, overseeing a workforce of 1,100 and managing critical relationships with government, indigenous communities, and other key stakeholders. Mehech brings deep expertise in lithium project development, regulatory engagement, and sustainability. He has led high-profile engagements with global investors, customers, NGOs, analysts, scientists, and international governments. He also played a key leadership role in the El Abra copper operation—a joint venture between Codelco and Freeport-McMoRan—where he led the legal strategy and contributed to corporate transformation initiatives. Mehech holds a law degree from the Universidad de Chile and a Master’s in Energy and Resources Law from the University of Melbourne.
Gordon Stein is a commercial CFO with over 30 years of expertise in the energy, natural resources and other sectors in both executive and non-executive director roles. As a chartered accountant, he has worked with start-ups to major companies, including board roles of six LSE companies.
Maha Daoudi has more than 20 years of experience holding several Board and senior-level positions across commodities, energy transition, finance and tech-related industries, including a senior role with leading commodity trader, Trafigura. Daoudi holds expertise in offtake agreements, developing international alliances and forming strategic partnerships.
Tommy McKeith is an experienced public company director and geologist with over 30 years of mining company leadership, corporate development, project development and exploration experience. He's held roles in an international mining company and across several ASX-listed mining companies. McKeith currently serves as non-executive director of Evolution Mining and as non-executive chairman of Arrow Minerals. Having worked in bulk, base and precious metals across numerous jurisdictions, including operations in Canada, Africa, South America and Australia, McKeith brings strategic insights to CTL with a strong focus on value creation.
Jonathan Morley-Kirk brings 30 years of experience, including 17 years in non-executive director roles with expertise in financial controls, audit, remuneration, capital raisings and taxation/structuring.
American Salars Lithium (CSE:USLI,OTC:USLIF, FWB:Z3P) is an exploration-stage company dedicated to acquiring, developing, and monetizing lithium brine projects across the Americas. With a clear focus on low-cost entry and scalable resource expansion, the company is executing a disciplined strategy to build a high-quality portfolio in strategic jurisdictions.
Central to American Salars’ vision is the conviction that lithium demand—driven by the accelerating adoption of electric vehicles and the rise of stationary energy storage solutions—is poised for significant long-term growth. The company is strategically positioning itself to capitalize on this trend, targeting assets with strong appeal to major producers and institutional investors.
Salar de PocitosSalar de Pocitos is the flagship asset of American Salars Lithium, situated in Argentina’s lithium-rich Puna region within Salta Province. The Pocitos 1 block spans 800 hectares and has shown strong lithium brine potential through historical drilling and testing. While a 760,000-ton inferred lithium carbonate equivalent (LCE) resource was previously reported for the area—including Pocitos 2, which is not owned by American Salars—all contributing drill holes for that estimate were located within Pocitos 1, where the company holds 100 percent ownership.
Drilling at Pocitos 1 has encountered aquifers at depths between 365 and 407 meters, with lithium concentrations reaching up to 169 parts per million (ppm). Sustained brine flow rates were recorded for over five hours, and porosity tests on core samples returned strong results, ranging from 6 to 14 percent, further underscoring the project’s potential.
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CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, is pleased to announce the appointment of Ignacio Mehech, former Country Manager of Albemarle in Chile, as the Chief Executive Officer ("CEO") and director of CleanTech Lithium.
Click link to watch interview with Ignacio Mehech: https://youtu.be/4iMx2vIZw9g
Highlights:
· Mr Mehech spent seven years up to 2024 at Albemarle with the last three years as Country Manager in Chile, managing a workforce of 1,100 employees and key stakeholder relationships, including Government and indigenous communities
· Albemarle is the world's largest producer of battery grade lithium with Chile accounting for 30 - 40% of its production*
· Native to Chile, Spanish speaking and fluent in English, Mr Mehech has deep leadership and project development experience in lithium production
· Managed high profile engagements with investors, customers, NGOs, analysts, scientists and international government representatives
· Before Albemarle, Mr Mehech led the legal strategy for the El Abra copper operation in Chile, a joint venture with Codelco, and leading US mining company Freeport McMoRan
· Throughout his career Mr Mehech has led profound transformations in organisations to generate sustainable value
· Mr Mehech holds a law degree from the Universidad de Chile and a master's degree in Energy and Resources Law from the University of Melbourne, Australia.
Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:
"I've been following CleanTech Lithium's progress in Chile for the past couple of years and have been impressed at the progress that has been achieved, with the Company being one of the most active in Chile in seeking to develop a more sustainable means of producing lithium from Chile's abundant brine resources.
I'm truly excited to take on the role as CEO to advance CleanTech's Laguna Verde project and the other business opportunities in Chile. The immediate focus is entering direct negotiations with the Chilean government and progressing the CEOL application for Laguna Verde and delivering the Pre-Feasibility Study to initiate strategic partner conversations. I look forward to leading CleanTech Lithium's project development alongside a dedicated team and to deliver value to all our stakeholders whilst supporting the ambitions of Chile's National Lithium Strategy."
Steve Kesler, Executive Chairman, CleanTech Lithium PLC, said:
"We are delighted that Ignacio has agreed to join us as CEO. His experience in Chile is invaluable, having been Country Manager for leading lithium producer Albemarle, and working on the EL Abra copper mine in Chile for US mining giant Freeport McMoRan. Ignacio joins CleanTech at a crucial point in our development and his significant experience will be instrumental in leading our Laguna Verde project into the next phase."
"I will continue in my role as Executive Chairman intending to move back to being the Company's Non-Executive Chairman when our Board believes the time is right. I look forward to working with Ignacio and remain confident in the long-term potential of CleanTech Lithium."
Figure 1: Ignacio Mehech (centre) participating in a panel discussion at the Future Mining and Energy Congress in Santiago, Chile October 2023. Photo credit: Future Mining and Energy Congress
Background on Ignacio Mehech
During his tenure at Albemarle, a US-listed company with a current market cap of around US$6 billion as of 8th April 2025, Mr Mehech played a pivotal role in driving production growth, strategic negotiations, and sustainability initiatives, significantly impacting Albemarle's operations in Chile and the broader region. Since 2015, Chile has been Albemarle's largest single operation - depending on market prices - accounting for 30 to 40% of its global production.
A landmark achievement under his guidance was securing the first-ever IRMA (Initiative for Responsible Mining Assurance) certification for a lithium operation worldwide at the Salar de Atacama plant-a testament to his commitment to environmental and social responsibility.
Previously to Albemarle, Mr Mehech has worked as a legal manager at Freeport-McMoRan, one of the largest copper and molybdenum producers in the world, with multiple assets around the globe. In Chile, it operates SCM El Abra, a joint venture with Codelco, located in Calama and where Mr Mehech was responsible for developing and leading the legal strategy for the business, assuring operational continuity, building relationships with regional authorities, indigenous and non-indigenous communities.
Ignacio Mehech Castellon, aged 42, has held the following directorships and/or partnerships in the past 5 years:
Current | Past |
Cobreloa SADP | Fundacion Chilena Del Pacifico Club Sirio Unido UN Global Compact, Chilean Chapter |
Mr Mehech currently holds no ordinary shares or other securities in the Company.
There is no further information on Ignacio Mehech required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
*Statistic taken October 2024 – Albemarle is the world’s largest lithium producer – Mining.com https://www.mining.com/web/ranking-the-worlds-top-lithium-producers/
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production.
The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All three projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE") with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com
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