Savannah Resources PLC Savannah Lithium joins BCSD Portugal
September 30 2021 - 4:59AM
RNS Non-Regulatory
TIDMSAV
Savannah Resources PLC
30 September 2021
30 September 2021
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the
'Company')
Savannah Lithium joins BCSD Portugal
and reinforces commitment to ESG initiatives
Savannah Resources plc, the European lithium development company
is pleased to report that its Portuguese subsidiary, Savannah
Lithium Unipessoal Lda (" Savannah Lithium"), has joined The
Business Council for Sustainable Development Portugal ("BCSD
Portugal") and thus reinforces its commitment to
sustainability.
David Archer, CEO of Savannah said: "We are delighted to have
become a member of BCSD Portugal, again showcasing the importance
that we place on promoting positive environmental, social and
corporate governance initiatives within the Company. We strongly
believe that the Mina do Barroso lithium project will significantly
contribute to the low carbon future of the automotive industry and
provide a fundamental foundation for the energy transition of
Europe to electric mobility. The production of lithium spodumene
from Mina do Barroso aims to place Portugal at the forefront of an
essential value chain to successfully meet the environmental
targets posed by the European Union's Green Deal."
About BCSD Portugal
BCSD Portugal is a non-profit association that brings together
and helps private and public sector companies that are actively
committed to the transition to sustainability. It provides the
benchmark for corporate sustainability in Portugal, helping its
members build innovative and sustainable organisations that will
ultimately enable the delivery of Sustainable Development Goals,
the United Nations 2030 Agenda and Paris Agreement.
The association already has 130 members including large
Portuguese companies such as Delta cafés, EDP, Cimpor, Galp,
Somincor and Sonae, and international companies such as Accenture,
BNP Paribas, Deloitte, Fujitsu, Microsoft, PWC and Siemens.
Like the other BCSD Portugal members, Savannah Lithium is an
innovative and responsible company whose Mina do Barroso lithium
project ("Mina do Barroso") will be developed in accordance with
the best environmental practices.
Savannah is committed to developing and maintaining a culture of
integrity and proactive management of health and safety, social
responsibility and environmental awareness, as well as standards of
protection and good governance in the conduct of its business. To
this end, the Company is developing a corporate Environmental and
Social Management System, which it intends to implement
incrementally across all projects in line with internationally
recognised ESG standards. Measures will be designed and implemented
to manage the ESG aspects of its activities, including the
elimination, prevention, minimisation, mitigation and/or
compensation of negative impacts, and trying to strengthen the
positive impacts.
The development of Mina do Barroso centres around an investment
of EUR110 million and the creation of 215 direct jobs and 500 to
600 indirect ones. Added to this is an amount of EUR6 million over
the life of the mine to invest in direct benefits to local
communities via its Benefit Sharing Plan and its Good Neighbour
Plan.
For this, the Company proposes, in the Environmental Impact
Study of the Mina do Barroso project, 238 individual mitigation
measures designed to eliminate or minimise impacts, during the
entire life cycle of the project, involving an investment of
approximately EUR15 million.
**ENDS**
Follow @SavannahRes on Twitter
Follow Savannah Resources on LinkedIn
For further information please visit www.savannahresources.com
or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
David Archer, CEO
SP Angel Corporate Finance LLP (Nominated Tel: +44 20 3470 0470
Advisor)
David Hignell / Charlie Bouverat
finnCap Ltd (Joint Broker) Tel: +44 20 7220 0500
Christopher Raggett/ Tim Redfern
WH Ireland Limited (Joint Broker) Tel: +44 20 7220 1666
Jessica Cave/ Ben Good (Corporate Finance)
Adam Pollock/ Jasper Berry (Corporate
Broking)
Camarco (Financial PR) Tel: +44 20 3757 4980
Nick Hennis / Gordon Poole
About Savannah
Savannah is a diversified resources group (AIM: SAV) with two
development stage projects, Mina do Barroso, a hardrock lithium
project in Portugal which has the largest spodumene lithium
resource in Europe, and the world-class Mutamba Heavy Mineral Sands
Project in Mozambique, which is being developed in a consortium
with the global major, Rio Tinto. The Board is committed to serving
the interests of its shareholders and to delivering outcomes that
will improve the lives of the communities we work with and our
staff.
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".
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