Last checked at 28 Sep 2023 12:05
28 September 2023
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Barroso Lithium Project Update
Action Brought Against the Portuguese Environment Agency/Ministry of Environment and Climate Action by Parish Council
Savannah, the European lithium development company, advises that its wholly owned subsidiary, Savannah Lithium Unipessoal Lda., has been joined as the counter-interested party in a lawsuit brought by the Parish of Covas do Barroso as plaintiff in the Mirandela Fiscal and Administrative Court in Portugal (the 'Court') against the Portuguese Environmental Agency ('APA') and the Ministry of Environment and Climate Action as defendants.
The lawsuit seeks to nullify the positive Environmental Impact Statement ('DIA') and supporting documents for Savannah's revised design and optimisation for the Barroso Lithium Project, issued in May 2023 by the APA, a public institute within the scope of the Portuguese Environment and Climate Action Ministry.
The lawsuit does not impact the Barroso Lithium Project's activities. The lawsuit follows the common procedure regime. Under this regime, the submission of this lawsuit does not suspend the DIA. It remains in force and allows Savannah to proceed with all the actions authorised by its content.
The advice from Savannah's lawyers is that the lawsuit is without foundation.
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
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SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/Abigail Wayne (Sales & Broking)
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Tel: +44 20 3470 0470
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RBC Capital Markets (Joint Broker) Farid Dadashev/ Jamil Miah
| Tel: +44 20 7653 4000 |
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 sole owner of the Barroso Lithium Project in northern Portugal.
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. Through the Barroso Lithium Project, Savannah can 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. Production is targeted to begin in 2026, producing enough lithium for approximately half a million vehicle battery packs per year.
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".