ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

CLON Clontarf Energy Plc

0.035
-0.01 (-22.22%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Clontarf Energy Plc LSE:CLON London Ordinary Share GB00B09WLX62 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -22.22% 0.035 0.033 0.037 0.04 0.034 0.04 492,371,040 16:20:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 -4.77M -0.0009 -0.33 1.56M

Clontarf Energy PLC Encouraging Bolivian Brines Progress

06/03/2024 10:33am

RNS Regulatory News


RNS Number : 8212F
Clontarf Energy PLC
06 March 2024
 

6th March 2024

 


Clontarf Energy plc

("Clontarf" or the "Company")

 

Encouraging Bolivian Brines Progress

 

Clontarf Energy plc (AIM: CLON), the energy company focused on lithium brines, and petroleum projects, is pleased to update shareholders on substantial, recent progress, in its activities in Bolivia:

 

The Company reports that on 4 March 2024, it submitted its qualification materials to the Bolivian State Lithium Company ("YLB") in relation to the Call for Bids ("convocatoria") for the seven priority salares (salt pans) in Southern Bolivia. Assessment by YLB is expected during March, with negotiations on licence terms for those successful applicants anticipated from early April.

The Company further notes that, on 27 February 2024, the European Commission launched an important initiative in partnership with a high-level Bolivian delegation to Brussels. This followed the EU Critical Minerals Act 2023, which aims to boost and diversify supplies of critical raw materials, and support necessary Research and Development. Clontarf Energy participated with other private sector companies, banks and development agencies in these events in the country. The result was that the EU institutions agreed in principle to finance related infrastructure, through the Bolivian authorities, and accepted that Direct Lithium Extraction (DLE) is clean and environmentally friendly. As infrastructure spend can be two-thirds of the total capital cost of new mines in remote locations, this support is critical. Bolivian representatives also accepted in principle that such investment would qualify for contractual offtake rights, under applicable law. This meets the key EU objective to protect and develop its automotive and green technology sectors.

 

Further updates will be provided, as appropriate, in accordance with necessary clearances from the authorities.

 

 

David Horgan, Chairman, commented: "Recent progress vindicates Clontarf's confidence, as all parties focus on practical measures to expedite lithium production.

 

"Both Bolivia, and the EU Commission are thinking strategically:

 

"Bolivia is determined to boost output of battery-grade lithium, under law. Its high-grade brines carry economic grades of lithium and other salts offering cleaner sources than current mining practices of burning hard-rock in Chinese coal-fired furnaces.

 

"The EU Commission rightly identifies Bolivia as potentially a key source of large volumes of cleanly-produced, high-purity battery-grade lithium. EU and other development institutions embrace their responsibility to overcome financial and legal challenges to deliver early output.

 

"The convocatoria, or formal Call for Bids, gives all sides a legally-binding basis for exploration and development agreements in joint venture with national authorities.

 

"The EU Commission drives ahead with its Critical Minerals initiative. EU institutions have the resources, skills, and determination to make these projects happen. Once it starts moving it is difficult to stop.

 

"We expect early results from ongoing efforts to strengthen critical raw material value chains between the EU and Latin America. Clontarf is participating vigorously in this initiative."

 

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

 

 

 

For further information please visit http://clontarfenergy.com or contact:

 

 

Clontarf Energy

David Horgan, Chairman

Jim Finn, Director

+353 (0) 1 833 2833



Nominated & Financial Adviser

Strand Hanson Limited

Rory Murphy

Ritchie Balmer

+44 (0) 20 7409 3494

Broker

Novum Securities Limited

Colin Rowbury

        +44 (0) 207 399 9400



Public Relations

BlytheRay

Megan Ray

+44 (0) 207 138 3206

 

Teneo

Luke Hogg

Alan Tyrrell

Fia Long

Alan Reynolds

+353 (0) 1 661 4055

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBQLFBZXLXBBF

1 Year Clontarf Energy Chart

1 Year Clontarf Energy Chart

1 Month Clontarf Energy Chart

1 Month Clontarf Energy Chart

Your Recent History

Delayed Upgrade Clock