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(Alliance News) - Savannah Resources PLC on Monday said that the company's path towards decarbonisation remains clear, after receiving encouraging results from initial study work.
Savannah Resources is a London-based lithium development company, which owns the Barroso lithium project in Northern Portugal. Following a positive scoping study, Savannah is progressing the development and environmental licencing of Barroso.
An initial decarbonisation study was conducted by Ecoprogresso, the Portugal-based environment, sustainability and climate change consultants. The objectives of the study were to update the pre-decarbonisation estimate of the project's greenhouse gas inventory; identify and investigate opportunities to reduce greenhouse gas emissions; and to create a preliminary decarbonisation strategy to reach net-zero Scope 1 and Scope 2 emissions over the life of the project.
On Monday, Savannah told investors that the study has confirmed the efficacy and flexibility of battery electric mining equipment as a means to reduce Scope 1 emissions to zero.
Further, the estimate of Scope 2 baseline emissions has been reduced by 54% from the original 2019 forecast, based on the potential for a reduction in the estimated power requirement of the project's plant and a 41% reduction in the emissions associated with Portugal's grid power.
Looking ahead, Savannah said future work would include more detailed analysis as part of the definitive feasibility study on the project, as well as studies to determine a site specific solution for a transition to battery operated mining fleet and associated charging infrastructure.
"I am extremely encouraged with the results from the initial decarbonisation study work and the clear path it helps to define for further carbon reduction throughout the project's life. Firstly, it is positive that the project's carbon footprint, prior to execution of our decarbonisation strategy, is going to be smaller than initially estimated back in 2019, due to a potential 54% reduction in Scope 2 emissions," said Chief Executive Officer Dale Ferguson.
"Together with our technical partners, including ABB, we have a particular focus on either eliminating or significantly reducing the potential impacts of the project, both locally and more generally in terms of emissions. Our initial work with the OEM's suggests that we will likely have access to both electric road haulage trucks and mine haul trucks early in the project's life, which will significantly reduce our Scope 1 and 2 emissions."
Savannah Resources shares were trading 3.3% higher at 2.79 pence each in London on Monday morning.
By Holly Beveridge; Alliance News reporter
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