Savannah Resources develops new system to help implement its ESG commitments
The ESMS will be aligned with internationally recognised ESG standards
Company
LON:SAV
Savannah Resources PLC is the owner of the Barroso Lithium Project, located close to key infrastructure in Northern Portugal which contains the most significant spodumene lithium resource in Western Europe. Following a positive scoping study that outlined a conventional operation producing 175,000t of spodumene concentrate per annum, Savannah is progressing with the development and environmental licencing of the Barroso Lithium Project. A definitive feasibility study is underway, and Portugal’s environmental regulator is evaluating Savannah’s Environmental Impact Assessment study on the project.
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The ESMS will be aligned with internationally recognised ESG standards
Subject to the results of the EIA, construction is targeted to commence in 2022 with commercial production in 2023
"The lithium price has performed extremely well in recent weeks," said analyst Charlie Long
“The global lithium industry is experiencing a period of strong recovery after a two-year period of falling prices," said chief executive David Archer
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The company said the Portuguese environmental regulator, Agência Portuguesa do Ambiente, has said the EIA conforms with content requirements, which it said is a “major milestone” on the project's road to production
"These initial results from the latest phase of the Mina do Barroso metallurgical test work programme are very encouraging," said Savannah's chief executive David Archer
Savannah Resources is advancing a sizeable lithium project in Portugal
The firm’s portfolio encompasses assets with near-term production potential and longer-term development opportunities
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We are delighted to announce Galp as a potential investor and future strategic partner in our Portuguese project," said chief executive David Archer
The company has submitted additional and revised information in response to the anticipated request it received from Agência Portuguesa do Ambiente, the Portuguese regulatory body
The focus will henceforth be on lithium in Portugal and mineral sands in Mozambique
The growth of the green economy, in which Savannah believes it can play a significant part, is being mirrored by the rise of environmental, social and governance considerations by investors
Mutamba, located in Mozambique, contains one of the world's largest undeveloped mineral sands deposits comprising an Indicated and Inferred Mineral Resource of 4.4 billion tons
Savannah has a diverse portfolio of assets across multiple jurisdictions
“The divestment allows us to retain exposure to the upside of the projects through the shareholding in Force, together with a loan and royalty payable when the projects go into production”
Lithium chemicals are in demand by Europe’s fast-growing battery manufacturing sector, said finnCap.
David Archer, Savannah's chief executive officer commented: "We are happy to share the Report completed by Professors Cerejeira and Carballo-Cruz from the University of Minho. We believe their excellent work brings further clarification reg