Extractive Industries

Clontarf advances bid for Bolivia salt pans

Clontarf Energy plc aims to partner with the German Mittelstand after reaching the third phase of the bidding process for seven priority salt pans in Bolivia.

Critical: co-operating on downstream and financing activities (stock photo)

OFF-TAKE

Phase III includes confirmation of the financial capacity of the company’s joint venture with NEXT-ChemX.

Assessment by the Bolivian State Lithium Company (YLB) will include a review of accounts for the past five years and a risk rating.

Clontarf said it had also broadened its ‘Team Europe’ partnership, at the European Commission’s suggestion, to include “financing and off-take partners representing key OEM manufacturers in the German Mittelstand”.

“Endorsement from one of the world’s leading groups of high-tech, battery-quality lithium offtakers is heartening,” added the company.

Clontarf, which will use direct lithium extraction, is one of 21 companies to enter the third of the five-phase process.

Chairman David Horgan added: “No one company or country has the weight to grapple with China and NAFTA – it must be a ‘Team Europe’ effort. 

“Accordingly, we sought EU institutional cover and, where possible, minority investments by member states’ entities to guard against expropriation.”

“Finance is best linked to off-take. 

“We are now co-operating on downstream and financing activities with Germany’s leading Mittelstand representative body.

“All markets are important, but Germany’s OEM* market is critical.”

*original equipment manufacturer

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