Reconfirmation of Strategic Project Status
Summary by AI BETAClose X
4 December 2025
Savannah Resources Plc
(AIM: SAV) ('Savannah', or the 'Company')
Reconfirmation of Strategic Project Status
European Commission reconfirms the Barroso Lithium Project as Strategic for the EU under the CRMA
Savannah Resources Plc, the developer of the Barroso Lithium Project in Portugal, a 'Strategic Project' under the European Critical Raw Materials Act and Europe's largest spodumene lithium deposit (the 'Project'), is pleased to announce that the European Commission has reconfirmed the Project as 'Strategic' for the European Union under the Critical Raw Materials Act.
The reconfirmation follows a request by various groups that the European Commission conduct an internal review into the Commission Decision's in March 2025 to recognise the Barroso Lithium Project as a Strategic Project under Regulation (EU) 2024/1252 of the European Parliament and of the Council.
In its response, the European Commission re-examined the Project´s technical data, confirming the robustness of the information shared and firmly rejecting the removal of the Project from the list of Strategic Projects, making it clear that the complaint was unfounded. One of the areas assessed by the European Commission was the impact of the Project on the region's water resources. The conclusions published make clear the Commission's view:
"Experts evaluated the measures that have been implemented to monitor, prevent and minimise environmental impacts. Thus, not only monitoring measures but also mitigation measures were imposed to ensure that the objectives of the Water Framework Directive (WFD) are not violated by the contested project. (…) They also observed that the various changes made to the initial project to minimise and monitor the effects on surface and groundwater (…) demonstrate that the risks related to the availability of water resources have been significantly reduced. The applicants do not present clear arguments showing that the above-mentioned measures are insufficient."[1]
This decision therefore reaffirms the Project as one of Europe's Strategic Projects under the Critical Raw Materials Act. The Project will play a fundamental role in Europe's re-industrialisation, in the decarbonisation of transport within the European Union, and in tackling the external energy dependency that Europe currently faces. It will also attract population to the region surrounding the Project while contributing to its economic growth.
Regulatory Information
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of 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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Canaccord Genuity Limited (Joint Broker) James Asensio / Charlie Hammond (Corporate Broking) Ben Knott (Sales) |
Tel: +44 20 7523 8000
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Media Relations Savannah Resources: Antonio Neves Costa, Communications Manager |
Tel: +351 962 678 912 |
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 Project is the largest battery grade spodumene lithium resource outlined to date in Europe and was classified as a 'Strategic Project' by the European Commission under the Critical Raw Materials Act in March 2025.
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 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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