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.
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