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Savannah Resources (SAV)

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Thursday 26 November, 2020

Savannah Resources

Next Stage of Mina do Barroso EIA Process Complete

RNS Number : 5431G
Savannah Resources PLC
26 November 2020
 

 

 

26 November 2020 

 

Savannah Resources Plc

('Savannah' or the 'Company')

 

Next Stage of Mina do Barroso EIA Process Completed

 

Savannah is pleased to announce that as part of the next stage in the Environmental Impact Assessment ('EIA') process for the Company's wholly owned Mina do Barroso lithium project ("Mina do Barroso" or the "Project"), it has successfully submitted additional and revised information in response to the anticipated request it received from Agência Portuguesa do Ambiente ('APA'), the Portuguese regulatory body.

 

This additional submission further underlines Savannah's commitment to developing and operating Mina do Barroso in a low impact, responsible and sustainable way which will bring long term social, environmental, economic and demographic benefits to all the Project's stakeholders and to Portugal.

 

EIA Delivery Timeline:

 

· As highlighted in the Company's 1 June 2020 announcement, "Submission of EIA & Mine Plan for Mina do Barroso", APA has an opportunity in the 'Pre-Phase' stage of the overall approval process to request additional or revised information from the applicant following its initial review of the original submission

· As expected, APA requested additional material which was compiled by Savannah's technical team and its environmental consultants and has now been submitted

· The Pre-Phase review timetable, guided to be 80 working days in total, was suspended when the additional information request was received and has now restarted with submission of the additional information

· Following submission of the additional information, we expect to receive a "declaration of the conformity" of the EIA in the next 20 workings days

· This declaration is followed by a period of public consultation during which the EIA is also reviewed by APA's Evaluation Committee. Taking into account the Christmas vacation, this period is expected to begin in early 2021

· Results from the public consultation and the Evaluation Committee's review will then form the basis for the Committee's "Final Technical Statement" which will allow APA to prepare the contents of the Environmental Impact Declaration ("DIA") and award the Project its DIA

· This will complete the 'Pre-Phase' stage of the application process, which will then move to the second stage, expected to take 60 working days, and subject to receipt of approval from the APA, will result in the Project receiving its Environmental Title

 

David Archer, Savannah's Chief Executive Officer said:

"As prescribed by the approval process for EIAs in Portugal, we expected a request from APA for additional information and revisions to the format of our original submission following its initial review. It is a standard part of the process. I would like to thank our internal technical team and external consultants who have worked extremely hard to provide a comprehensive, high quality response to the request made.

 

"Savannah remains committed to developing and operating Mina do Barroso in a way which minimises its impact on the environment and local communities while bringing significant economic benefits over the long term for all the Project's stakeholders. Once the EIA document's conformity has been confirmed by APA in the coming weeks it will be published by APA as part of the public consultation process. We look forward to the public release of the study in due course which will provide all stakeholders with a highly comprehensive, fact-based, overview of the Project's design, construction, operation and decommissioning in relation to the environment and local communities."

 

Regulatory Information

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

**ENDS**

 

For further information please visit www.savannahresources.com or contact:

 

Savannah Resources PLC

David Archer, CEO

 

 

Tel: +44 20 7117 2489

 

SP Angel Corporate Finance LLP (Nominated Advisor)

David Hignell / Charlie Bouverat

 

 

Tel: +44 20 3470 0470

 

 

finnCap Ltd (Joint Broker)

Christopher Raggett

 

 

Tel: +44 20 7220 0500

 

WH Ireland Limited (Joint Broker)

James Joyce/ Matt Chan (Corporate Finance)

Adam Pollock/ Jasper Berry (Corporate Broking)

 

Tel: +44 20 7220 1698

 

 

Camarco (Financial PR)

Nick Hennis / Gordon Poole  

Tel: +44 20 3757 4980

 

 

 

About Savannah

 

Savannah is a diversified resources group (AIM: SAV) with two development stage projects, a hardrock lithium project in Portugal which has the largest spodumene lithium resource in Europe, and the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major, Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of the communities we work with and our staff.

 

The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".

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