TIDMSAV
RNS Number : 1982T
Savannah Resources PLC
16 March 2023
16 March 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the
'Company')
Barroso Lithium Project EIA Update
Submission of documentation to the regulator
Savannah Resources, the European lithium development company, is
pleased to report that it has submitted the revised Environmental
Report (the 'Report') and Mine Plan ('MP') for the Barroso Lithium
Project (the 'Project') to Portugal's environmental regulator,
Agência Portuguesa do Ambiente ('APA'). Savannah, assisted by its
team of local and international engineering and environmental
consultancies, has been working on the revised Report and MP since
the Company agreed with APA to enter the additional 'Article 16'
phase of the EIA process in July 2022. During the Article 16 phase,
Savannah has worked collaboratively with APA and the other
authorities represented on the Assessment Committee established
under the EIA process, to ensure the updated submission addresses
all concerns raised and recommendations made.
Highlights & Next steps:
-- Revised Environmental Report and MP submitted ahead of 17
March deadline set by the Article 16 process
-- Submission initiates the 50-business day assessment period
available to APA. The deadline for the notice of APA's
Environmental Impact Statement ('DIA') is therefore 31 May 2023
-- During this period, Savannah expects the Environmental
Report, MP and other supporting documents, which it has submitted,
to be made available to the public via the APA website for 10
business days
-- After publication of the documents by APA, Savannah will also
make public more details of the Project's revised design,
operation, and accompanying proposals around sharing of the
Project's socio-economic benefits with stakeholders
-- As announced on 23 February 2023, Savannah has already
initiated meetings with some local stakeholder groups, and it will
look to continue these during the 50 business day assessment period
which is now underway
-- If APA reaches a positive DIA:
o Savannah expects the decision to set certain design and
operating conditions for the Project
o Savannah expects to be given 10 business days to consider the
conditions set in the proposed decision
o If Savannah accepts the conditions set in the decision, the
environmental licensing process could then continue alongside the
work on the Project's Definitive Feasibility Study. Savannah would
expect the Project to receive its Environmental License in 2024
Dale Ferguson, CEO of Savannah said, "We are delighted to have
submitted the revised Environmental Report and Mine Plan for the
Barroso Lithium Project to APA ahead of the original deadline. I
would like to thank all our staff and consultants who have worked
so diligently over the past nine months to produce these documents,
and to APA, its evaluation committee and the Project's other
stakeholders, who provided the feedback on which our revised plans
for the Project are based. We believe the revisions we have made
address the key points highlighted to us about finding ways to
further reduce the Project's impact on the natural environment and
the local population, while also creating socio-economic benefits
that can be shared locally and at a national level.
"We look forward to the Report and associated documents being
made public by APA, which, along with the additional details
provided by Savannah, will provide our stakeholders with the
opportunity to view and understand the Project and the changes we
are proposing. In the meantime, we will continue to engage with
local stakeholders, to ensure they are given every opportunity to
learn about Savannah's responsible approach to developing the
Project and the socio-economic benefits we believe it will
bring.
"Today marks a major milestone for Savannah and I expect the
months ahead to be a defining period for the Company and Portugal
as we play our part in the development of an end-to-end lithium
value chain in Portugal and Europe."
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 give 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'.
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 / Fergus Young
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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