TIDMSAV
RNS Number : 7653Q
Savannah Resources PLC
23 February 2023
23 February 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the
'Company')
Barroso Lithium Project EIA Update
Engagement with Local Stakeholders
Savannah Resources, the European lithium development company, is
pleased to provide an update on the 'Article 16' phase of the
assessment being conducted by Portugal's environmental regulator,
Agência Portuguesa do Ambiente ('APA'), on the Environmental Impact
Assessment (the 'EIA') process of the Barroso Lithium Project (the
'Project'). As previously announced on 6 July 2022, Savannah agreed
for the EIA review process to enter this additional, time-limited,
phase.
Savannah has now completed a series of meetings with APA and
other authorities represented on the Assessment Committee
established under the EIA process to gain a full understanding of
the commission's and other stakeholders' recommendations and
concerns. Based on this feedback, the Savannah team is now
finalising the revised Project and further engaging with local
stakeholders around the planned changes, which are focused on the
management of water resources, optimisation of Project-related
infrastructure, ecology, socio-economic considerations and
landscape impacts.
Savannah remains on track to deliver the updated project and
environmental report before the deadline date of 17 March 2023,
after which APA and the Assessment Committee will have 50 business
days to evaluate the revised EIA and make their decision.
Dale Ferguson, CEO of Savannah said, "We continue to make good
progress with the preparation of our revised EIA and associated
studies and remain on track to make our submission by the deadline
of 17 March.
"Ahead of the submission, the Article 16 process allows us to
discuss the revised Project with stakeholders. As part of our
ongoing stakeholder engagement programme, we are keen to take up
this opportunity and hence we are planning a series of in-person
meetings with local groups and the wider community, which we expect
to begin before the submission of the EIA."
Background information:
Before providing its final Environmental Impact Statement
('DIA') on the Project, APA proposed in July 2022 that the EIA
process for the Barroso Lithium Project should continue under
Article 16 of Decree-Law No. 151-B/2013, ('Article 16'), which
regulates Environmental Impact Assessments in Portugal. Under
Article 16, Savannah has up to 180 business days to redesign or
revise certain physical aspects of the Project's design and
associated environment, ecology and socio-economic considerations
and resubmit them to APA for consideration.
Following resubmission, APA has a maximum of 50 business days to
review the resubmission and give its DIA.
Savannah announced on 6 July 2022 that it had agreed to the EIA
review process entering this additional phase. The Company has
until 17 March 2023 to make its resubmission to APA.
Approval of the EIA, through receipt of a positive DIA from APA,
is regarded as the key element in the Project's overall approval,
but there are two subsequent phases in the environmental licencing
process.
A positive DIA defines a set of guidelines which must be
followed during the Project's development, operation, and closure.
During the subsequent Environmental Compliance Report of the
Execution Project ('RECAPE') phase, the Project proposer works with
the regulator to ensure that these guidelines are followed in the
final design of the Project as it is created. If the final design
is approved by the regulator (APA), the Project receives a positive
Decision on the Environmental Compliance of the Execution Project
('DCAPE').
Running in parallel with the RECAPE process is the licencing
award process. Once the DCAPE has been made the Project can be
awarded its final Environmental Licence, Título Único Ambiental
('TUA').
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**
Follow @SavannahRes on Twitter
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com
or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
Dale Ferguson, CEO
SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470 0470
Advisor & Joint Broker)
David Hignell/ Charlie Bouverat (Corporate
Finance)
Grant Barker/Abigail Wayne (Sales & Broking)
RBC Capital Markets (Joint Broker) Tel: +44 (0) 20 7653 4000
Farid Dadashev/ Jamil Miah
Camarco (Financial PR) Tel: +44 20 3757 4980
Gordon Poole/ Emily Hall
About Savannah
Savannah 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 which outlined a conventional
operation producing 175,000t of spodumene concentrate per annum,
Savannah is progressing the development and environmental licencing
of the Barroso Lithium Project.
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".
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDSEFFAEEDSESE
(END) Dow Jones Newswires
February 23, 2023 02:00 ET (07:00 GMT)
Savannah Resources (AQSE:SAV.GB)
Gráfica de Acción Histórica
De Oct 2024 a Nov 2024
Savannah Resources (AQSE:SAV.GB)
Gráfica de Acción Histórica
De Nov 2023 a Nov 2024
