https://newsletter.mw.creamermedia.com
Building|Business|PROJECT|Refinery|Resources
Building|Business|PROJECT|Refinery|Resources
building|business|project|refinery|resources

Dutch miner AMG buys into Portuguese lithium project

20th June 2024

By: Reuters

  

Font size: - +

LISBON - Dutch miner AMG has acquired a 15.77% stake in London-based Savannah Resources to become the largest shareholder in the company that is developing a lithium project in northern Portugal, the companies said on Thursday.

Savannah CEO Emanuel Proenca said the £16-million investment represented a "huge de-risking step", describing AMG as the "ideal partner" because of its own lithium business that serves Europe's battery and electric vehicle (EV) sector.

The project, which has faced strong opposition from local residents and environmentalists, is widely seen as a test for the European Union's ambition to reduce its dependence on countries such as China for key raw materials.

Savannah wants to build four open-pit lithium mines in the Barroso region, extracting enough lithium each year for around half a million EV batteries. It hopes to start production in 2026.

AMG and Savannah have also agreed to study the possibility of building a refinery in Portugal or Spain to turn spodumene into lithium carbonate.

AMG said the deal gives it a seat on Savannah's board of directors and a five-year offtake of 45 000 t/y of spodumene, a mineral that contains lithium, extendable to 90 000 t over 10 years.

Edited by Reuters

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.072 0.151s - 126pq - 2rq
Subscribe Now