Lithium miner poised for AIM flotation

MINER Cleantech Lithium is planning to float on AIM early next month.

The firm, which is developing two projects in Chile, could announce the listing as soon as this week. It is expected to be valued at about £30million to £35million.

Lithium is a key metal used in the production of batteries which power electric cars.

Big mining groups are racing to set up projects. Experts at analysis group Benchmark Minerals estimate global demand will rise from 350,000 tons in 2020 to 2.5million tons a year in 2030 and more than 7million tons by 2040.

Rival Bacanora Lithium, which was listed on AIM, was recently taken private in a controversial £260 million takeover by the company’s largest shareholder, the Chinese group Ganfeng.

Cleantech is planning to extract lithium from salt lakes and hard rock mines using renewable energy.

Private company Cornish Lithium has found large amounts of lithium in hot springs in Britain.