TIDMSAV
RNS Number : 0426N
Savannah Resources PLC
18 January 2023
18 January 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the
'Company')
Social Impact Assessment Update
Savannah Resources, the European lithium development company, is
pleased to provide an update on the Social Impact Assessment (the
'Assessment' or the 'SIA') being undertaken at the Barroso Lithium
Project (the 'Project') by Community Insights Group ('CIG').
The SIA will provide Savannah with a clear assessment of the
range of views that exists among stakeholders towards the Project
and the Company, as well as the expectations and preferences that
stakeholders have for benefit sharing from the Project. A 'Social
Issues Scoping Report', the final report from this first phase of
the SIA is expected from CIG later this month, and this will be
submitted to the Portuguese environmental regulator ('APA') as part
of Savannah's revised EIA submission during Q1 2023. The findings
in this report will be used to help shape Savannah's ongoing
interaction and communication with stakeholders, impact mitigation
measures, as well as the specifics of its Project-related
benefit-sharing plan.
Highlights
-- CIG conducted interviews of local residents during October
2022 to ascertain the main issues perceived as essential or
significant to their well-being and how these could be affected by
the Project, in both a positive and negative manner
-- The interviews also allowed CIG to gather accounts of how
stakeholders perceived their past and current interactions with
Savannah. Feedback was provided on an anonymous basis
-- Key feedback/subjects raised included:
o Greater provision of information about the Project is required
and for Savannah to develop its relationship with stakeholders
o Concerns about the Project's potential impact on the local
environment, biodiversity, water resources and the local
agricultural economy
o Potential impact on the standard of living in the local
community due to dust, noise, and increased traffic created by the
Project
o The Project's potential to create job opportunities and
increased demand for local service providers was seen as
positive
o The potential for increased accessibility into the area
through improvements to local road infrastructure associated with
the Project was seen as positive
o The Project's potential to act as a catalyst for responsible
regional development and to reverse the long-term trend of
declining population in the area was seen as positive
-- An Information Sheet summarising the feedback from the first
round of interviews and the next steps in the Assessment has been
posted to local stakeholders, and has also been published on the
Company's website
-- Next steps include:
o More stakeholders' feedback to be gathered as the Assessment
continues
o CIG to complete its Social Issues Scoping Report which will be
part of Savannah's EIA resubmission
o Savannah to share more details on the Project's EIA once it
has been submitted to APA
Dale Ferguson, CEO of Savannah Resources said, "I express my
thanks to all community members who agreed to take part in this
initial survey conducted by Community Insights, we look forward to
hearing and engaging with many more local people as the process
continues.
We value the feedback greatly and will continue to be in
'listening mode' for the community with feedback to date being
hugely valuable. This feedback has helped inform our approach as we
seek to complete the work on revising aspects of the Project
design, in collaboration with APA. These physical aspects include
infrastructure, management of local water resources, landscape
impacts and ecological systems. Once these revised designs are
finalised and submitted to APA later this quarter, we look forward
to being able to share much more detail on them, and the Project as
a whole, with all stakeholders.
APA has also requested that we look further at the
socio-economic aspects of the Project, such as its impact on other
local businesses. We are in the process of doing this too as we
look to deepen the links between the Project and all stakeholders
in the local area.
Savannah places great importance on its relationship with
community members and hopes to become a valued and useful presence
in local society. In order to do that we must not only design and
operate the Project responsibly and to the standards required by
the conditions placed upon it through the licencing process, but
also by respecting and supporting the people, traditions, and
culture of the area, which are so important to its identity.
My thanks again to all those who have engaged with CIG to date,
I would encourage any member of the community who has questions or
comments about the Project to either get in touch with Community
Insights or Savannah."
Background information:
The Community Information Sheet can be viewed at
https://www.savannahresources.com/esg/social/, in the Community
Resources section under Community Correspondence.
About Community Insights
Community Insights Group (CIG) is a social performance
consultancy with extensive experience in mining and energy projects
around the world, including in Portugal.
https://www.communityinsights.eu/
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".
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END
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January 18, 2023 02:00 ET (07:00 GMT)
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