TIDMSAV
Savannah Resources PLC
20 April 2023
20 April 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the
'Company')
Barroso Lithium Project EIA Update
End of Public Consultation Period
Savannah Resources, the European lithium development company,
notes that the public consultation period on the revised Barroso
Lithium Project (the 'Project') Environmental Report and Mine Plan
closed yesterday. Savannah welcomed the opportunity for all
interested parties to provide feedback on its revised plans for the
Project. Savannah now expects Agência Portuguesa do Ambiente ('
APA') to continue with its review of the Project documentation and
feedback received and to issue its Environmental Impact Statement
('DIA') on the Project by 31 May 2023.
The Company has used best practice and innovative design to
incorporate numerous measures to remove, minimise or mitigate
against both its environmental and social impact. Among many
optimisations made in the Project's revised design, Savannah has
specifically addressed the previous feedback received from
stakeholders regarding management of water resources, layout of
Project-related infrastructure, ecology and landscape impacts, and
socio-economic considerations.
Savannah believes the Project can be an example of compatibility
between responsible critical raw material production, economic
growth and community benefits.
Dale Ferguson, CEO of Savannah said "We welcomed the opportunity
which the public consultation period provided for interested
parties to share their feedback on our revised plans for the
Project.
"Portugal is fortunate in having high quality lithium resources
which could allow it to play a key role in providing a raw material
which the European Commission has identified as being critical and
strategic for the region's energy transition, as it looks to combat
the effects of climate change and develop new sectors in its
economy.
"Savannah is committed to developing the Barroso Lithium Project
in a responsible way which minimises its impact on the natural
environment, so that the environmental benefits of the lithium
produced are maximised. We are also committed to creating
socio-economic benefits that can be shared at both a local and a
national level.
"We now look forward to receiving APA's DIA decision by 31 May
2023."
As previously announced Savannah has been meeting with local
stakeholder groups to discuss its revised plans for the Project and
will continue to provide information on the Project to all
interested parties. Further information on the Project's revised
design and steps Savannah is taking to minimise its impact can be
found in the 'Our Community' section of the Savannah website
at:
https://www.savannahresources.com/esg-community/our-community/
(English version),
or
https://www.savannahresources.com/pt/esg-comunidade/comunidade/
(Portuguese version), but examples of some of design features
incorporated in the Project to further minimise its environmental
impact include:
-- Water: The Project will source all its own water onsite.
Water will be predominantly collected in the mining areas as well
as from other surface sources. Water will not need to be taken from
the Covas River. The Project will have a 'closed' water system,
meaning process water will be stored, treated and recycled onsite
and not be discharged from the Project
-- Noise & vibrations: Savannah is committed to operating
well below legal limits for noise and ground vibrations
-- Dust: Air quality will be constantly monitored, and dust will
be suppressed by water treatment of unpaved roads and areas where
trucks are unloading at the processing plant
-- Traffic: A new road layout avoids all Project-related traffic
passing through local villages and towns and will significantly
improve public access to the region benefiting economic growth and
freedom of movement
-- Energy: Savannah has committed to making the Project carbon
net-zero over its lifetime, which will include sourcing 100%
renewable energy
-- Flora and fauna:
o The water management plan and level of water consumption means
the impact on rivers and the aquatic ecosystem is minimised;
o Independent studies show that Iberian wolf packs are not
living on the Project area, and mitigation measures have been put
in place to protect wildlife;
o In the revegetation phase the Company will use native species
and other suitable plants with good pollination characteristics
-- Transparent environmental reporting: Multiple environmental
indicators including water quality on and off site, air quality,
noise and ground vibrations, will be monitored and the data
publicly reported through the Company's website, at its local
Information Centres, and via a planned smartphone app
-- Landscape: Rehabilitation of the Project is guaranteed. The
impacted areas including all mining areas, tailings and permanent
waste rock storage facilities, and infrastructure such as the
processing plant and water storage facilities will be
comprehensively rehabilitated, landscaped and revegetated with
native species. Impacted water courses will be reinstated, as far
as practically possible, to their original locations. The land will
be returned to the community at the end of the Project
Potential economic benefits of the Barroso Lithium Project
include:
-- Employment: 215 long term direct jobs; and more than 2,000*
indirect and induced jobs in the operating phase
-- Communities: creation of a Foundation with a budget of 500
thousand euros / year available for support of community projects
and initiatives
-- National production*: increase of the gross value of national
production by 420 million euros during the investment phase
(construction) and by 210 million euros per year during the
operating phase
-- GDP*: contribution to GDP of 173 million euros during the
investment phase and 95 million euros per year during the operating
phase
* Data from the Updated Economic & Social Impact study of
the Barroso Lithium Project carried out by Professors Carballo-Cruz
and João Cerejeira from NIPE - Research Center in Economic and
Business Policies of the School of Economics and Management of the
University of Minho.
Background information:
Before providing its final Environmental Impact Statement
('DIA') on the Project, APA proposed in July 2022 that the EIA
evaluation process for the Barroso Lithium Project should continue
under Article 16 of Decree-Law No. 151-B/2013, amended and
republished by the Decree-law 152-B/2017 of 11 December ('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.
Savannah announced on 6 July 2022 that it had agreed to the EIA
review process entering this additional phase. On 16 March 2023,
the Company announced that it had made its resubmission to APA
ahead of the required deadline.
Following resubmission, APA has a maximum of 50 business days to
review the resubmission and provide its DIA.
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 of the environmental licencing
process, 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, 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 declaration has been made the Project
can be awarded its final Environmental Licence, 'Título Único
Ambiental'.
Savannah - Enabling Europe's energy transition.
**S**
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 / Fergus Young
LPM ( Portugal Media Relations) Tel: +351 218 508 110
Herminio Santos/ Jorge Coelho
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".
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END
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April 20, 2023 02:00 ET (06:00 GMT)
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