Clontarf Energy plc has announced that it has submitted a proposal to explore the Lithium-bearing salt-lake in Bolivia. Currently, Lithium from salt pans is in demand for high performance batteries.

Clontarf Energy is an emerging oil and gas exploration and production company. Moreover, it is currently focused on Africa and South America. Indeed, Clontarf Energy has been active in Bolivia since 2000 through the wholly owned subsidiary Petrolex SA.

Director of Clontarf Energy, David Horgan, said:

“We have re-established our presence in Bolivia, and have initiated discussions with the Bolivian National Lithium Company (YLB) on a possible joint venture to study and, if indicated, explore the second largest lithium brine deposit in the world.”

“Between 2008 and 2010 Clontarf examined salt pan lithium deposits in Bolivia but we were unable to proceed at that time. Lithium from salt pans is in demand for high performance batteries.”

However, the company also mentions that there is no guarantee that the proposal will lead to a binding contract.

At 15:27 BST today, shares in Clontarf Energy plc (LON:CLON) were trading at -20.39%.