KEY POINTS
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CleanTech Lithium signed options to acquire two mining properties in Argentina.
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Scheduled payments total $1.925 million through May 2031.
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Antofalla could share infrastructure with Laguna Verde and Viento Andino, while Laguna Verde remains the main focus.
Lithium exploration and development company CleanTech Lithium has secured options to acquire two mining properties in Argentina, expanding its portfolio near its flagship Laguna Verde project.
The company has signed two option agreements covering the Genoveva and Sal de Litio 1 properties in the southern part of the Salar de Antofalla, a major salt flat in Argentina. CleanTech Lithium is grouping the two properties under the name Antofalla project.
The new assets are located about 80 kilometres from Laguna Verde and could strengthen the company’s long-term lithium development plans.
CleanTech Lithium targets additional mining assets
The agreements give CleanTech Lithium the option to acquire full ownership of the Genoveva and Sal de Litio 1 properties. The company said legal due diligence on the properties had been completed by Argentine law firm Beretta Godoy. It also noted that the mining licences are perpetual, provided the relevant requirements for maintaining them in good standing are met.
Securing the properties would expand CleanTech Lithium’s presence in a region that it considers strategically important for future lithium production.
Lithium is a key raw material used in rechargeable batteries for electric vehicles and energy storage systems. As demand for battery materials grows, companies are seeking to secure resources that could support future supply.
However, the acquisition agreements do not, by themselves, establish the size or commercial viability of the lithium resources at the new properties. Further development work would be needed to determine their full potential.
Acquisition payments to reach $1.925 million
CleanTech Lithium has outlined a payment schedule covering the option agreements. The company will make scheduled payments totalling $525,000 during the first year. It will then pay a further $1.4 million between October 2027 and May 2031. This brings the total scheduled payments under the agreements to $1.925 million.
The company said it would finance the payments from its existing cash resources, rather than identifying a separate funding source for the acquisitions.
The phased payment structure spreads the financial commitment over several years, allowing the company to pursue the additional properties while continuing to focus on its existing projects.
Antofalla could share infrastructure with other projects
CleanTech Lithium believes the Antofalla project could create development synergies with its Laguna Verde and Viento Andino projects.
Chief executive Ignacio Mehech said Salar de Antofalla was the largest undeveloped salt flat in Argentina and highlighted its proximity to the company’s other assets.
According to Mehech, the three projects could benefit from coordinated development and potentially share a centralised lithium conversion facility in Copiapó, Chile.
A shared conversion facility could allow lithium-bearing material to be processed at a central location instead of requiring separate facilities for each project. Such an arrangement could potentially reduce duplicated infrastructure and improve operational coordination, although the company has not confirmed a final development plan for the proposed facility.
The location of Antofalla near Laguna Verde could also make it easier to assess opportunities for shared technical resources and infrastructure as the projects advance.
Laguna Verde remains the company’s main priority
Despite expanding its portfolio, CleanTech Lithium said Laguna Verde remains its main development focus.
Mehech described the Antofalla addition as a source of potential long-term value for shareholders, while stressing that the company’s flagship project continues to take priority.
The new properties give CleanTech Lithium additional ground to explore in Argentina’s lithium sector. Their eventual contribution will depend on further technical work, project development decisions and the company’s ability to establish commercially viable operations.
For now, the option agreements provide a route for CleanTech Lithium to expand its asset base while maintaining its focus on Laguna Verde and exploring potential links between its projects.
