Clean Tech Lithium Plc is lining up a partner for its flagship Chilean project as it prepares for an Australian listing, with CEO Ignacio Mehech saying investor interest is building despite a sharp pullback in prices for the battery metal. More than 20 companies signed agreements to review confidential material for the Laguna Verde project, and London-listed Clean Tech aims to select a partner this year or early 2027. The firm also expects to complete a dual listing by year-end via an Australian public offering.
Mehech plans to travel to Sydney next week to work on the process, with the amount to be raised still to be determined. Chinese lithium-carbonate futures plunged in September, surrendering almost all of this year’s gains amid concerns over battery demand and inventories. Mehech said the selloff reflects investor sentiment in China rather than physical supply and demand. “There’s no market fundamental behind it, and it should reverse in the short term because analysts continue to see a deficit in the coming years,” he said.
Laguna Verde is designed to produce 15,000 metric tons of lithium carbonate annually and, if all goes to plan, would be Chile’s first new lithium producer in more than three decades. Its operating contract is with Chile’s Comptroller General for final review. Possible partners include miners, cathode producers, automakers, traders and investment funds. Clean Tech is listed on London Stock Exchange’s Alternative Investment Market and has a market value of £25.6 million ($33.8 million). The stock has risen 27% this year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing