Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) endorsed the mining sector's target of net-zero emissions by 2050 and said its Barroso lithium operation in Portugal could meet the goal by as early as the 2020s.
David Archer, chief executive said: "Savannah welcomes the commitment being made by the major mining companies that make up the (International Council on Mining and Metals) ICMM's membership to reducing Scope 1 and 2 emissions to net-zero by 2050, or earlier.
“Savannah hopes to achieve the same goals but during the operation of its Barroso lithium Project in the 2020s and 2030s and will also look to reduce the Scope 3 emissions that relate to the project."
Savannah estimates that by reducing Barroso’s Scope 1 and 2 emissions to zero, the project's overall emissions during its operating phase will reduce by over 60% while lithium from the project would remove 100 million tonnes of CO2 from the EU transport sector if used in batteries.
Archer added: “This will ensure that the lithium from Barroso enters the value chain with the smallest possible emissions footprint and in turn will help to maximise the environmental benefit of the subsequent lithium-ion batteries produced.”