CleanTech Lithium, a developer of lithium mines, is in talks with parties interested in investing in its two "green" projects in the so-called Lithium Triangle of South America and expects to have hard news of this within six months, the company's chief financial officer Gordon Stein said in an interview
The development of two CleanTech Lithium projects, both utilizing direct lithium extraction (DLE) technology—a more environmentally friendly method than traditional lithium extraction—aligns with CEO Aldo Stein’s vision for a two-tier lithium pricing system in Europe based on environmental standards.
Combined, the projects aim to produce up to 40,000 mt/year of battery-grade lithium products over a 3–4 year development timeline, with a planned mine life of 25 years. The company plans to initially build a 10,000 mt/year lithium carbonate facility at its Laguna Verde site in Chile’s Andean region by 2025, potentially doubling output to 20,000 mt/year. The second project, at Francisco Basin nearby, is expected to follow within 12–18 months. Lithium grades at Francisco Basin are due for announcement in two weeks.
A pilot DLE plant is scheduled to begin construction in Q3 this year, with materials supplied from China.
CleanTech Lithium, listed on the London AIM market, is currently in NDAs or early talks with OEMs, battery makers, and traders across North America, Europe, the Far East, and China, Stein said at the Global Mining Finance conference in London.
Potential strategic partnerships could follow the "Japanese model," involving 10%-15% equity stakes with options for offtake agreements. Stein estimates the projects will require $200 million to $400 million in funding and mentioned discussions with the Chilean government on potential collaboration.
Mining’s ESG Challenge
Mining is increasingly recognized as a major contributor to electric vehicles’ carbon footprints. This has intensified ESG pressures on lithium, copper, nickel, and other battery metal supply chains.
“Production of lithium from hard-rock mines and evaporation pond operations has high emissions: estimated 5–15 mt of CO2 per metric ton of lithium,” Stein told the audience. Traditional brine extraction, which can take up to two years to yield battery-grade lithium, is also resource-intensive.
By contrast, DLE can extract battery-grade lithium within two days. The method uses resins to isolate lithium before re-injecting the remaining brine, avoiding aquifer depletion and evaporation ponds, and boasting “almost zero-carbon emissions,” according to Stein.
“DLE is a game-changer,” he said. While DLE has existed for around two decades and is already in use in China, Argentina, and Germany, it still accounts for just 1% of global lithium output. “DLE is only entering the market.”
Two-Tier Lithium Pricing?
As Europe tightens rules on vehicle emissions and battery supply chains, Stein expects to see lithium pricing reflect environmental impact. “The market will beat that process into us if we want to be net-zero by 2050,” he said.
Lithium prices have surged amid booming demand for EV and electronics batteries. As of June 10, Platts assessed lithium carbonate CIF North Asia at $73,600/mt and lithium hydroxide at $76,100/mt.
Though CleanTech’s DLE approach yields lower-grade brine, recovery rates reach 80%–90%, compared to 40% for conventional brine projects after two years. Stein emphasized this “supply gap” at the lower-grade end of the market, calling it “the perfect place at the perfect time.”
However, DLE’s energy requirements raise production costs to approximately $5,000/mt, versus $3,500/mt for conventional high-grade methods. Stein noted CleanTech's operations plan to run on renewable energy, which already supplies 60% of the regional grid.
