Business
Approval of Environmental Impact Statement (DIA)
Approval of Environmental Impact Statement (DIA).
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n31 May 2023\n \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company')\n \nPositive DIA for Barroso Lithium Project\n \nBarroso Lithium Project Receives Positive Environmental Impact Statement (DIA) from Regulator\n \nSavannah, the European Lithium Development company, is pleased to report that Agência Portuguesa do Ambiente ('APA'), the Portuguese Environmental regulator, has issued a Positive Declaration of Environmental Impact ('DIA') for Savannah's wholly owned Barroso Lithium Project (the 'Project') in northern Portugal. With this key positive decision, the Project can now progress to the next stage of the environmental licencing process ('RECAPE'), and the outstanding work required to complete the Definitive Feasibility Study ('DFS') on the Project can recommence.\n \nHighlights\n· Savannah has received a positive DIA from APA for its revised design and optimisation for the Barroso Lithium Project, which encompasses feedback from stakeholders to further minimise the environmental impact of the Project.\n· This represents a major milestone for the Project and is the first positive DIA for a lithium raw material supply project in Portugal, while implementing European best ESG practices.\n· As expected, in line with international practice, the DIA has been issued with a set of conditions, measures and compensations (the 'Conditions') which, following review, Savannah has agreed to, and which should provide further assurance that the Project will be developed and operated in a socially and environmentally responsible way, and that socio-economic benefits will be shared with stakeholders.\n· The positive DIA allows the Company to progress key economic studies on the Project, including the publication of an updated Scoping Study expected in early H2 2023, and the recommencing of the Definitive Feasibility Study.\n \nDale Ferguson, CEO of Savannah commented, \"We are delighted that APA has issued a positive DIA for the Barroso Lithium Project. This is an extremely important step forward, not only in the development of the Project, but also in the development of the lithium raw material industry in Portugal.\n \n\"Given Savannah's commitment to responsible practices, minimising imp...