Savannah Resources - mina do barroso lithium mining

Savannah resources Lithium projects in the north of Portugal have attracted the attention of Savannah Resources, which has bought Slipstream Resources Investments to get the rights to exploration. In all, there are four zones that are being exploited by the British company for the lithium prospect. AIM listed Savannah Resources Plc (AIM: SAV) is a multi-commodity development company focused on building cash generative and profitable mining operations. The Company operates a strategic portfolio of assets, spanning globally. It has entered into an agreement to acquire a 75% interest in the highly strategic Mina do Barroso prospect in northern Portugal. With an approved Mining Plan, Environmental Impact Assessment and a 30-year mining concession/Mining Licence, the Company is focussed on defining a JORC resource so that a development decision can be made by the end of 2018. Mina do Barroso is arguably one of the most advanced lithium mining concessions in Europe. Initial preliminary metallurgical test work indicates that a clean, high quality spodumene product (over 6% Li2O) can be produced from the mineralised rock. It aims to begin mining lithium in Portugal at the end of 2019, making it the first big producer of the battery mineral in Europe, where rival projects are springing up across the continent.