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Mina do Barroso Socio Economic Impact Report
Mina do Barroso Socio Economic Impact Report.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 0912U\n Savannah Resources PLC\n 27 July 2020\n \n \n \n \n \n \n \n \n 27 July 2020\n \n \n \n \n \n Savannah Resources Plc\n \n \n (\"Savannah\" or the \"Company\")\n \n \n \n \n \n Mina do Barroso Lithium Project Socio Economic Impact Report\n \n \n \n \n \n Report by The University of Minho Highlights Mina do Barroso's Potential Economic Benefits\n \n \n \n \n \n Savannah is pleased to announce the key findings and recommendations made by a commissioned report into the potential economic impacts of developing the Mina do Barroso Lithium Project (\"Mina do Barroso\", \"Project\") by a team of economists from the prestigious University of Minho (the \"Report\"), based in the city of Braga approximately 80km from the Project. \n \n \n \n \n \n The Report was undertaken over the last year and its economic analysis drew upon the results of the Company's 2018 Scoping Study on the Project, as announced on 14 June 2018 (the \"2018 Scoping Study\"), publicly available information including policy documents of the Portuguese Government and European Commission and statistical data, and relevant academic papers. The key findings of the Report are summarised below.\n \n \n \n \n \n Economic Highlights - The Project could:\n \n \n · \n Contribute nearly €1.2 billion to Portugal's Gross Output including €168m during its construction and €90mpa during its operating phase\n \n \n · \n Contribute €437m to Portugal's Gross Domestic Product including €65m during its construction and €34mpa during the operating phase\n \n \n · \n Boost Portugal's annual export revenue from metal ores by 20% with its ~€110mpa of lithium sales\n \n \n ·\n Generate up to 2,800 direct and indirect jobs during the construction phase and nearly 1,500 during the operational phase based on its output contribution\n \n \n ·\n Increase the annual income of the Boticas Municipality from taxes by 133% plus potential for a share of royalty income paid to the State\n \n \n \n \n \n Key Conclusions - The Project could:\n \n \n · \n Provide a significant economic boost to the local area\n \n \n · \n Act as a template for further in-country natural resource development\n \n \n · \n Stimulate further economic growth via the development of downstream lithium chemical and battery facilities in P...