CleanTech Lithium PLC (AIM:CTL) said it has entered into an agreement with China’s SunResin New Materials Co. Ltd, a world leader in deploying commercial scale direct lithium extraction (DLE) plants, to help develop its projects in Chile.
SunResin, which is valued at about US$4bn on the Shenzhen Stock Exchange, has more than 10 years of experience in DLE and has executed nine commercial DLE contracts representing a total capacity of 73,000 tonnes per year of lithium.
DLE is a more sustainable method for extracting lithium and results in higher recoveries and purities than conventional methods.
SunResin will work with CleanTech and its DLE technical partner, Beyond Lithium, on the planned pilot scale production tests on Laguna Verde brine. CleanTech hopes to start pilot scale production at its Laguna Verde project by early 2023.
CleanTech and SunResin will further look to negotiate commercial terms which would allow CleanTech to fast-track the development of its projects using SunResin's modular DLE plants.
CleanTech, which has two prospective lithium projects, hopes to produce battery grade lithium globally by 2024/2025 with near zero carbon emissions and low environmental impact.
The conventional method of processing brine uses large evaporation ponds which deplete the aquifers of salt lake basins and are environmentally damaging.