31st May 2023 11:37
Savannah Resources PLC - London-based lithium development company - Receives positive declaration of environmental impact from the Portuguese environmental regulator, Agencia Portuguesa do Ambiente, for its wholly owned Barroso lithium project in northern Portugal. Adds, it has agreed to the set of conditions issued alongside the declaration to ensure the project is "developed and operated in a socially and environmentally responsible way." Says project can now progress to the next stage of its environmental licensing process. Expects to publish a new scoping study in the second half of 2023 and will move forward with its definitive feasibility study, which includes carrying out fieldwork later in the year. Savannah has been in talks with APA in the last few months over Barroso's environmental impact assessment. Based on feedback, Savannah has focused on the management of water resources, optimisation of project-related infrastructure, ecology, socio-economic considerations and landscape impacts.
Chief Executive Officer Dale Ferguson says: "This is an extremely important step forward, not only in the development of the project, but also in the development of the lithium raw material industry in Portugal.
"The decision from APA now gives us the detailed framework we need to produce the final technical design of the project."
Current stock price: 4.30 pence, up 17% on Wednesday
12-month change: down 2.7%
By Sabrina Penty, Alliance News reporter
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