CleanTech Laguna Verde scoping study estimates 20,000 mt/year of lithium carbonate output

Lithium mine developer CleanTech Lithium has completed the scoping study for its Laguna Verde lithium project in Chile, which estimated that the project could produce 20,000 mt/year of lithium carbonate over a 30-year operating life, it said Jan. 5.

The study also determined a construction period of one and a half years, a direct lithium extraction recovery rate of 90.4%, a concentration stage and chemical plant recovery rate pf 94.2% and a total recovery rate of 85.2%.

CleanTech said the study supported the potential for Laguna Verde to become a major supplier of battery grade lithium to European and US markets based on sustainable direct lithium extraction, or DLE, technology.

On the financial side, the scoping study estimated a capital cost of around $383.6 million, which was based on a DLE plant using SunResin Materials existing DLE technology.

It also forecast an operating cost of $3,875/mt of lithium carbonate, a payback period of 20 months, a post-tax net present value of $1.42 billion at a discount rate of 10% and an internal rate of return of 45.1%.

The economics were based on a long-term lithium carbonate price of $22,500/mt from 2027, it said.

Platts, part of S&P Global Commodity Insights, assessed seaborne lithium carbonate at $74,200/mt CIF North Asia Jan. 6, up 119.5% since the start of 2022.

Production is planned to start latest 2026, although the company's board and management are targeting late 2025.

CleanTech said it would start the project's prefeasibility study immediately, which it aimed to complete in the second half of 2023 and would look at potentially converting lithium carbonate into lithium hydroxide.

According to Platts assessments, at $80,900/mt CIF North Asia, lithium hydroxide prices are currently $6,700/mt or 9% higher than lithium carbonate prices.

"The scoping study provides added confidence in the robust economics of the Laguna Verde project; based on low operating and capital costs... The study further advances the process and technical design concept for the project, with strong ESG principles incorporated at each step," CleanTech CEO Aldo Boitano said.

"The scoping study outlines a plan to produce battery-grade lithium with a low environmental footprint, which positions the company extremely well to supply the EU and US markets," he added.

In August, CleanTech partnered with Chinese DLE technology company SunResin New Materials Co. to develop its lithium projects in Chile.

In June, it confirmed 99.9% battery-grade lithium carbonate from laboratory-scale DLE test-work on brine from Laguna Verde.

CleanTech is also developing the Francisco Basin project in Chile, where it has already started a scoping study, which is due for completion in the first half of 2023.