CleanTech Lithium Boosts Investment in Project in Chile by 66%

Following the publication of the pre-feasibility study, the firm’s CEO remarked, «We have a unique opportunity to become the next lithium producer to begin operations in Chile after more than 30 years.»

The British company CleanTech Lithium presented the results of its Pre-Feasibility Study (PFS) for Laguna Verde, its flagship project in Chile. It increased the estimated investment for the project, which will be located in the Atacama Region at 4,300 meters above sea level, according to Diario Financiero.

The release of the study—conducted by the engineering firm Worley—represents a milestone for the company, which trades on the London Stock Exchange, and for the Chilean lithium industry, as it is the first lithium PFS in the country to consider direct extraction (DLE) technologies.

According to the document reviewed by DF, the total estimated investment for the Laguna Verde project increased by 66% over CleanTech’s previous estimates, rising from US$450 million to US$748 million.

Meanwhile, the initiative’s pre-tax net present value stood at US$1.4 billion.

«The completion of the PFS marks a significant milestone for CleanTech Lithium. The work demonstrates that the Laguna Verde project offers strong technical advantages and highly favorable economic parameters,» said the company’s CEO, Ignacio Mehech of Chile.

«The estimated capital intensity is approximately US$49,900 per ton of battery-grade lithium carbonate, which compares favorably with direct lithium extraction (DLE) projects currently under development worldwide,» he noted.

He also said that the initiative will leverage Chile’s advantages in infrastructure, logistics and its  «highly skilled” workforce.

«The depth of the work completed to date places the company in a very favorable position, as we have the unique opportunity to become the next lithium producer to begin operations in Chile after more than 30 years,» said Mehech, who is also the former Albemarle country manager.

In early March, the government and CleanTech agreed on the terms of the Special Lithium Operation Contract, which will allow the company to access the salt flat’s brines for 40 years and carry out work ranging from exploration to production.

This contract is awaiting Comptroller approval, which the company expects to be finalized in the second quarter of 2026.

Laguna Verde

Laguna Verde is expected to produce 15,000 tons of battery-grade lithium carbonate annually over an initial 25-year lifespan. The process avoids the industry’s iconic evaporation ponds.

In practice, the operation pumps underground brine, processes it through a selective absorption system that captures lithium, and reinjects the treated brine into the ground, thereby reducing the water footprint. This method also relies on favorable natural conditions in the salt flat—such as temperatures between 20°C and 30°C—that optimize process efficiency.

The goal is to produce battery-grade lithium continuously while minimizing the project's environmental footprint, positioning it as a model of sustainable production in Chile.

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