Savannah Resources PLC ABB signs agreement with Savannah (4578G)
March 30 2022 - 2:00AM
UK Regulatory
TIDMSAV
RNS Number : 4578G
Savannah Resources PLC
30 March 2022
30 March 2022
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the
'Company')
ABB signs agreement with Savannah as plans progress for zero
emission lithium project in Europe
Savannah Resources plc, the European lithium development
company, is pleased to announce that it has signed a Memorandum of
Understanding (the 'MoU') with global technology leader ABB in
connection with the previously announced Decarbonisation Study for
the construction and operation of Savannah's Barroso Lithium
Project (the 'Project') in northern Portugal.
Savannah is undertaking a Definitive Feasibility Study ("DFS")
for the construction of a lithium concentrate production facility
in northern Portugal. The decarbonisation strategy, which was
formally announced on 3 March 2022 is part of Savannah's commitment
to move towards net zero Scope 1 and 2 emissions for the Project by
maximizing the use of renewable electricity to power mineral
production and processing operations. Savannah's strategic vision
is to build a state-of-the-art mineral production operation for a
premium, ultra-low carbon spodumene concentrate as a strategic raw
material in Europe's battery supply chain.
Under the early-stage agreement, ABB will apply its technical
expertise to outline production control and process solutions for
lithium concentrate production and integrated spodumene mining
operations in line with Savannah's target of zero emission
operations by 2030.
Savannah will also work towards binding agreements with ABB in
relation to electrification, automation and digital solutions in
the future.
Commenting on the ABB MoU, Savannah CEO David Archer said: "ABB
is at the forefront of the automation and electrification we
require for our decarbonisation journey as we progress the
development of the Barroso Lithium Project. We are pleased to have
their expertise as we continue to execute on our decarbonisation
strategy to build Europe's first spodumene production facility, as
a critical supplier of low carbon raw materials for lithium-ion
batteries. I look forward to providing our shareholders with
further updates as we move towards binding agreements with
ABB."
Commenting for ABB, Frederik Esterhuizen, HUB Division Manager,
Process Industries Central & South Europe said: "The
development of Savannah's Barroso Lithium Project provides us with
an additional opportunity to showcase ABB's leadership in
industrial automation and smart electrification in Europe, applied
towards key operations for the emerging European battery supply
chain. This is another step as we continue to enable more
sustainable and fossil fuel free mining operations."
Further information
About ABB:
ABB (ABBN: SIX Swiss Ex) is a leading global technology company
that energizes the transformation of society and industry to
achieve a more productive, sustainable future. By connecting
software to its electrification, robotics, automation and motion
portfolio, ABB pushes the boundaries of technology to drive
performance to new levels. With a history of excellence stretching
back more than 130 years, ABB's success is driven by about 105,000
talented employees in over 100 countries. www.abb.com
ABB's Process Automation business is a leader in automation,
electrification and digitalization for the process and hybrid
industries. The business serves its customers with a broad
portfolio of products, systems, and end-to-end solutions, including
its # 1 distributed control system, software, and lifecycle
services, industry-specific products as well as measurement and
analytics, marine and turbocharging offerings. As the global #2 in
the market, the business builds on its deep domain expertise,
diverse team and global footprint, and is dedicated to helping its
customers increase competitiveness, improve their return on
investment and run safe, smart, and sustainable operations.
go.abb/processautomation
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").
**ENDS**
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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)
Aimee McCusker (Corporate Broking)
Camarco (Financial PR) Tel: +44 20 3757 4980
Gordon Poole/Emily Hall
About Savannah
Savannah is the owner of the Barroso Lithium Project, located
close to key infrastructure in Northern Portugal which contains the
most significant spodumene lithium resource in Western Europe.
Following a positive Scoping Study which outlined a conventional
operation producing 175,000t of spodumene concentrate per annum,
Savannah is progressing the development and environmental licencing
of the Barroso Lithium Project. A Definitive Feasibility Study is
underway, and Portugal's environmental regulator is currently
evaluating Savannah's Environmental Impact Assessment study. 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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END
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