New exploration results at Savannah's Portugal lithium project point to larger deposit
LISBON - The latest exploration results at Savannah Resources' lithium project in northern Portugal point to a larger deposit than the previously estimated 28-million metric tons of high-grade lithium, the company said on Wednesday.
Savannah, which wants to build four open-pit mines in the region to extract enough lithium each year for about half a million to a million electric vehicle batteries, said last month it would accelerate the project to secure the first commercial output in 2027.
"The results from the surface exploration which our team undertook are truly exciting," the London-listed company's CEO Emanuel Proenca said on Wednesday.
Savannah has said that Barroso's deposit of spodumene - an important source of lithium - is already the biggest in Europe.
"The early conclusion is very clear: the Barroso lithium project remains highly prospective for further spodumene lithium resource delineation," Proenca added.
In a statement, the company said the results indicated that significant follow-up targets existed on the project's licensed areas, as well as the potential to extend the five known ore deposits.
The European Union is working to reduce dependence on countries such as China for strategic raw materials but Savannah's project has run into opposition from local residents and environmentalists in the form of protests, legal challenges and refusals to sell land.
Proenca said Savannah is firmly focused on the necessary steps to enable the project's startup.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
