REG - Savannah Resources - Claim filed in relation to temporary land access

Savannah ResourcesAnnouncement

07/02/2025 08:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250207:nRSG3343Wa&default-theme=true

RNS Number : 3343W  Savannah Resources PLC  07 February 2025

 

7 February 2025

 
Savannah Resources Plc

(AIM: SAV) ('Savannah', or the 'Company')

 

Precautionary Measure filed in court against Portuguese Ministry for the
Environment

 

Savannah Resources Plc has been informed that a 'precautionary measure' (the
'Measure') has been filed at the Administrative and Fiscal Court of Mirandela
by three local landowners, against the Portuguese Ministry for the Environment
& Energy (the 'Ministry'). The Measure relates to the temporary land
easement order (the 'Order') which was approved by the Portuguese state in
December 2024. The Order gives Savannah temporary access to land which it does
not own at the Project, for the purposes of conducting the fieldwork required
for Project's Definitive Feasibility Study and environmental licencing, which
Savannah has been using to progress work for the last two months, with no
significant obstacle.

 

Under Portuguese law, as the Order has been contested in a court, its
authority is automatically suspended with no judicial evaluation of the merits
of the Measure, awaiting a judgement by the court. As a result, Savannah is
required to temporarily stop its work on the relevant land at the Project.
Savannah has complied immediately with this requirement, ensuring that all
working areas and equipment are secure and made safe. Savannah is free to
continue with fieldwork on land that it owns or has alternative rights to
access.

 

This action by the opposition group, that is now smaller but still active, was
an expected manoeuvre aimed at stalling the Project. The Company's legal
advisers have reviewed the documents, and are of the opinion that the Measure
is without merit. While awaiting the Ministry's response to the Measure, as a
counter-interested party in this matter, Savannah will also prepare a
contestation, which it will submit to the court. The Company will treat this
latest action like other previous legal claims which are considered baseless,
and expects to return to work on the lands concerned shortly.

 

Savannah will make further announcements relating to this matter as
appropriate.

 

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").

 

Savannah - Enabling Europe's energy transition.

 

**ENDS**

Follow @SavannahRes on X

Follow Savannah Resources on LinkedIn

 

For further information please visit  www.savannahresources.com or contact:

 

 Savannah Resources PLC                                            Tel: +44 20 7117 2489

 Emanuel Proença, CEO
 SP Angel Corporate Finance LLP (Nominated Advisor & Broker)       Tel: +44 20 3470 0470

 David Hignell/ Charlie Bouverat (Corporate Finance)

 Grant Barker/Abigail Wayne (Sales & Broking)

 Camarco (UK Financial PR)                                         Tel: +44 20 3757 4980

 Gordon Poole/ Emily Hall / Nuthara Bandara
 Portugal Media Relations

 Savannah Resources: Antonio Neves Costa, Communications Manager   Tel: +351 962 678 912
 LPM Herminio Santos/ Jorge Coelho/ Margarida Pinheiro             Tel: +351 218 508 110

 

About Savannah

Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project (the 'Project') in northern Portugal, the
largest battery grade spodumene lithium resource outlined to date in Europe.

 

Through the Project, Savannah will help Portugal to play an important role in
providing a long-term, locally sourced, lithium raw material supply for
Europe's lithium battery value chain. Once in operation the Project will
produce enough lithium (contained in c.190,000tpa of spodumene concentrate)
for approximately half a million vehicle battery packs per year, and hence
make a significant contribution towards the European Commission's Critical Raw
Material Act goal of a minimum 10% of European endogenous lithium production
from 2030. Savannah is being supported in its development goals by its
strategic partner and largest shareholder, AMG Critical Materials N.V., the
global critical materials business.

 

Savannah is focused on the responsible development and operation of the
Barroso Lithium Project so that its impact on the environment is minimised and
the socio-economic benefits that it can bring to all its stakeholders are
maximised.

 

The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (AIM) and trades under the ticker "SAV".

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGRGDDCSGDGUR