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Clean TeQ Water Limited (ASX:CNQ)

ALERT: Price-sensitive ASX Announcement for CNQ
Current share price for CNQ : $0.435 -0.035 (-7.45%)+
Announcement
Release
6 Nov 2025 12:24PM
Price at Release
$0.470
Full Release
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Summary
Clean TeQ Water Limited, trading on the Australian Securities Exchange as CNQ, has secured a substantial contract worth approximately A$19.2 million with Rigi - Rincon Mining Pty Limited, a subsidiary of Rio Tinto Ltd, for the development of the Rincon Lithium Project in Argentina. This contract represents a significant milestone for Clean TeQ Water, marking its first major project in South America and one of the largest contracts in its history. The project will involve the engineering design, procurement, and supply of a lithium concentrate softening plant utilizing Clean TeQ's proprietary Moving Bed Ion Exchange (MBIX) technology. The deal underscores the company's standing in the global lithium refining and direct lithium extraction sectors, promising a strategic expansion over a three-year phased delivery schedule. The MBIX technology offers enhanced efficiency and sustainability by minimizing lithium loss and freshwater use, positioning Clean TeQ as a key player in the cost-effective production of lithium amidst growing global demand.
Key Points
  • Awarded a ~$19.2 million contract by Rigi - Rincon Mining Pty Limited.
  • Project involves engineering design and supply of a lithium concentrate softening plant.
  • Utilizes Clean TeQ's proprietary MBIX technology.
  • First major project in South America for Clean TeQ.
  • Contract is one of the largest in the company's history.
  • Positions Clean TeQ as a global player in lithium refining.
  • Three-year phased delivery schedule.
  • MBIX technology offers reduced lithium loss and freshwater use.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.