Claim filed in relation to temporary land access
7 February 2025
Savannah Resources Plc
(AIM: SAV) ('Savannah', or the 'Company')
Precautionary Measure filed in court against Portuguese Ministry for the Environment
Savannah Resources Plc has been informed that a 'precautionary measure' (the 'Measure') has been filed at the Administrative and Fiscal Court of Mirandela by three local landowners, against the Portuguese Ministry for the Environment & Energy (the 'Ministry'). The Measure relates to the temporary land easement order (the 'Order') which was approved by the Portuguese state in December 2024. The Order gives Savannah temporary access to land which it does not own at the Project, for the purposes of conducting the fieldwork required for Project's Definitive Feasibility Study and environmental licencing, which Savannah has been using to progress work for the last two months, with no significant obstacle.
Under Portuguese law, as the Order has been contested in a court, its authority is automatically suspended with no judicial evaluation of the merits of the Measure, awaiting a judgement by the court. As a result, Savannah is required to temporarily stop its work on the relevant land at the Project. Savannah has complied immediately with this requirement, ensuring that all working areas and equipment are secure and made safe. Savannah is free to continue with fieldwork on land that it owns or has alternative rights to access.
This action by the opposition group, that is now smaller but still active, was an expected manoeuvre aimed at stalling the Project. The Company's legal advisers have reviewed the documents, and are of the opinion that the Measure is without merit. While awaiting the Ministry's response to the Measure, as a counter-interested party in this matter, Savannah will also prepare a contestation, which it will submit to the court. The Company will treat this latest action like other previous legal claims which are considered baseless, and expects to return to work on the lands concerned shortly.
Savannah will make further announcements relating to this matter as appropriate.
Regulatory Information
This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources.com or contact:
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Savannah Resources PLC Emanuel Proença, CEO |
Tel: +44 20 7117 2489
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SP Angel Corporate Finance LLP (Nominated Advisor & Broker) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/Abigail Wayne (Sales & Broking)
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Tel: +44 20 3470 0470
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Camarco (UK Financial PR) Gordon Poole/ Emily Hall / Nuthara Bandara |
Tel: +44 20 3757 4980 |
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Portugal Media Relations Savannah Resources: Antonio Neves Costa, Communications Manager |
Tel: +351 962 678 912 |
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LPM Herminio Santos/ Jorge Coelho/ Margarida Pinheiro |
Tel: +351 218 508 110 |
About Savannah
Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project (the 'Project') in northern Portugal, the largest battery grade spodumene lithium resource outlined to date in Europe.
Through the Project, Savannah will help Portugal to play an important role in providing a long-term, locally sourced, lithium raw material supply for Europe's lithium battery value chain. Once in operation the Project will produce enough lithium (contained in c.190,000tpa of spodumene concentrate) for approximately half a million vehicle battery packs per year, and hence make a significant contribution towards the European Commission's Critical Raw Material Act goal of a minimum 10% of European endogenous lithium production from 2030. Savannah is being supported in its development goals by its strategic partner and largest shareholder, AMG Critical Materials N.V., the global critical materials business.
Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its impact on the environment is minimised and the socio-economic benefits that it can bring to all its stakeholders are maximised.
The Company is listed and regulated on the London Stock Exchange's Alternative Investment Market (AIM) and trades under the ticker "SAV".
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