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(Sharecast News) - Clontarf Energy said on Friday that it was engaging with the new leadership of Bolivia's state lithium company as it seeks to advance its lithium brine strategy.
The AIM-traded energy company, which is focused on lithium brines and petroleum projects, said the recent Bolivian election had signalled a shift towards more pro-business policies.
It said the new government planned to reform key legislation over the coming months to attract foreign investment into strategic areas overseen by the Hydrocarbons and Energy Ministry, including oil exploration, renewable energy and lithium.
Clontarf said Sergio Soliz Gomez had been appointed president of Yacimientos de Litio Bolivianos, or YLB, in mid-March.
The firm said it was currently engaging with Soliz Gomez and his team, and that its local representatives expected to meet officials in the coming weeks.
Clontarf said its immediate objective was to enter into a memorandum of understanding with YLB.
That would allow the company to obtain large bulk samples from the Coipasa and Uyuni brine deposits for shipment and processing at the Next-ChemX pilot plant in India.
It said a detailed chairman's statement would be included in its annual report, expected to be issued before the end of June.
Clontarf added that its board had reviewed a number of potential projects over recent months but deemed them unsuitable.
It said it would continue to assess new opportunities in line with its strategic objectives.
At 1236 BST, shares in Clontarf Energy were down 7.32% at 0.02p.
Reporting by Josh White for Sharecast.com.
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