25 March 2024
Savannah Resources
Plc
(AIM: SAV, FWB: SAV and SWB:
SAV) ('Savannah', or the
'Company')
Savannah wins Overseas Direct
Investment Award
Savannah Resources Plc, the
developer of the Barroso Lithium Project (the 'Project') in
Portugal, Europe's largest spodumene lithium deposit, is pleased to
announce that it was the recipient of the Overseas Direct
Investment Award, from the UK-Portugal Business Alliance. The
ceremony took place in Lisbon on 22 March and was hosted by His
Majesty's Ambassador to Portugal, Lisa Bandari, together with HM
Trade Commissioner for Europe, Chris Barton, in an event at the
British Ambassador's Residence.
Administrated by the UK Department
for Business and Trade (DBT) in Portugal, the UK-Portugal Business
Alliance event is an initiative to reward and publicly recognise
the entrepreneurial effort of Portuguese companies that have chosen
the United Kingdom as an investment destination, as well as British
companies that have achieved success in Portugal, some of which are
also direct investors in the Portuguese market, such as
Savannah.
Now in its 14th year, the
UK-Portugal Business Awards celebrated the achievements of 25
businesses this year, out of the wide group of companies the DBT
Portugal team supports.
Pictured below is Savannah's CEO,
Emanuel Proença (2nd from right) with HM Ambassador, Lisa Bandari
and HM Trade Commissioner for Europe, Chris Barton (2nd and 3rd
from left respectively) alongside other winners at the UK-Portugal
Business Alliance Awards ceremony.
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".