9 February 2024
Savannah Resources
Plc
(AIM: SAV, FWB: SAV and SWB:
SAV) ('Savannah', or the
'Company')
Update on Lawsuit involving
APA and the Portuguese Ministry of Environment and
Climate
Savannah Resources Plc, the
developer of the Barroso Lithium Project (the 'Project') in
Portugal, Europe's largest spodumene lithium deposit, provides an
update following yesterday's announcement relating to the lawsuit brought by the Parish of Covas do
Barroso against the Portuguese Environmental Agency ('APA') and the
Ministry of Environment and Climate Action as defendants (the
"Lawsuit").
In response to the Public Ministry's
opinion, APA has published a statement on its website
(Declaração
de Impacte Ambiental (DIA) da Mina do Barroso - esclarecimento da
APA | Agência Portuguesa do Ambiente
(apambiente.pt)) which confirms
the "procedure was carried out in
accordance with the legal terms of the respective legal
regime". An English translation of APA's statement is
reproduced in full below.
English Translation of the APA Statement
"Considering the content of today's
news, which notes the opinion of the Public Ministry on the
Environmental Impact Statement (DIA) issued for the preliminary
study of the Mina do Barroso, and despite the fact that this Agency
is still analyzing it, it is pertinent to point out, from the
outset, that the environmental impact assessment (EIA) procedure
was carried out in accordance with the legal terms of the
respective legal regime.
In this context, it should be
remembered that a multidisciplinary Evaluation Committee was
appointed which, although coordinated by the APA as the competent
EIA authority, included 8 other entities and various specialists
with competence and vast experience in the technical matters now
referred to by the Public Ministry.
These entities include public
administration bodies such as the Institute for Nature Conservation
and Forests, the Directorate-General for Cultural Heritage, the
Northern Regional Coordination and Development Commission, the
National Energy and Geology Laboratory and the Directorate-General
for Energy and Geology, as well as higher education entities and
research centers such as the Faculty of Engineering of the
University of Porto and the Higher Institute of Agronomy / Center
for Applied Ecology Prof. Baeta Neves.
The issues now referred to by the
Public Ministry, such as the impacts on water resources, ecological
systems, cultural heritage and the landscape, were thoroughly
analyzed and weighed up by the Evaluation Commission, as is clear
from the opinions it issued and which were the basis for the
favorable conditional EIS issued by this Agency.
It should be remembered that both
the opinions of the Evaluation Committee and the EIS are available
to read on this Agency's EIA Information System, namely via the
following links:
Opinion of the Evaluation
Committee -
Link
Opinion of the Evaluation
Committee -
Link
DIA -
Link
Lastly, it should be noted that the
opinion of the Public Ministry is merely an opinion on the possible
merits of the case, i.e. it has no binding effect on the judge who
will pass sentence in the case, and it is understood that the
procedural documents presented, as a whole, make it possible to
refute any of the alleged illegalities invoked and uphold the
validity of the contested DIA.
Without prejudice, the Agency is
currently analyzing this opinion and, in due course, will decide
whether it is justified, in due procedural terms, to submit a
response to it."
Savannah will make further
announcements regarding the Lawsuit as appropriate.
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**
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For further information please
visit www.savannahresources.com
or contact:
Savannah Resources PLC
Emanuel Proença, CEO
|
Tel: +44 20 7117 2489
|
SP
Angel Corporate Finance LLP (Nominated Advisor & Joint
Broker)
David Hignell/ Charlie Bouverat
(Corporate Finance)
Grant Barker/Abigail Wayne (Sales
& Broking)
|
Tel: +44 20 3470 0470
|
SCP
Resource Finance (Joint Broker)
Filipe Martins/Chris
Tonkin
|
Tel: +44 204 548 1765
|
Camarco (Financial PR)
Gordon Poole/ Emily Hall / Fergus
Young
|
Tel: +44 20 3757 4980
|
LPM
(Portugal Media Relations)
Herminio Santos/ Jorge
Coelho
|
Tel: +351 218 508 110
|
About Savannah
Savannah Resources is a mineral
resource development company and the sole owner of the Barroso
Lithium Project in northern Portugal, the largest battery grade
spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project
(the 'Project'), Savannah will help Portugal to play an important
role in providing a long-term, locally sourced, lithium raw
material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May
2023 and the Scoping Study confirmed the economic potential of the
Project in June 2023, production is now targeted and on track to
begin in 2026. At that stage, Savannah will start producing enough
lithium for approximately half a million vehicle battery packs per
year, equal to a significant portion of the European Commission's
Critical Raw Material Act goal of a minimum 10% of European
endogenous lithium production set for 2030. Savannah is focused on
the responsible development and operation of the Barroso Lithium
Project so that its impact on the environment is minimised and the
socio-economic benefits that it can bring to all its stakeholders
are maximised.
The Company is listed and regulated
on the London Stock Exchange's Alternative Investment Market (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".