University of Minho Socio Economic Report available on Savannah website
Following on from the Company’s RNS of 27 July 2020 regarding the key findings and recommendations made in a commissioned report (the “Report”) from the University of Minho into the potential economic impacts of developing the Mina do Barroso Lithium Project (“Mina do Barroso”, “Project”), the Report has now been uploaded to Savannah’s website.
Available in Portuguese, or as an English translation, the full report and executive summaries can be found at on the following pages on the site:
· Presentations, Factsheets and Other Reports
http://www.savannahresources.com/investor-relations/presentations-and-reports/
· Mina do Barroso Lithium Project, Portugal
http://www.savannahresources.com/assets/mina-do-barroso/
David Archer, Savannah’s Chief Executive Officer said, “We are happy to share the Report completed by Professors Cerejeira and Carballo-Cruz from the University of Minho. We believe their excellent work brings further clarification regarding the many positive benefits that Mina do Barroso could bring. Their quantitative and qualitative analysis shows that it is a project of significant importance, not only in terms of the local economy, but also for the national economy of Portugal, and as part of the European Commission’s plans to create an end-to-end lithium value chain in Europe. We have always believed the Project could be a major force for good in the local area via the creation of jobs, by acting as a major new customer for other local businesses, through the payment of taxes, and by making direct contributions of finance and other resources to society through our Benefit Sharing Plan.
“The Report should help everyone to understand the scale of the contribution the Project, which we intend to develop in a sustainable and responsible manner, could make locally and also clarifies its significance to Portugal’s national economy, and its potential as a catalyst for a much larger programme of industrial development based on Portugal’s natural resources, particularly its lithium.”
**ENDS**
