LONDON: Savannah Resources Plc is preparing for a pivotal stage in Europe’s push to secure battery metals, as it lines up financing for what could become the bloc’s largest domestic source of lithium.
Additionally, the London-listed firm is completing a feasibility study at its Barroso project in northern Portugal and has started structuring funding for construction, which is expected to require €300mil to €350mil over the next two and a half years.
Furthermore, the European Union designated Barroso a strategic project earlier this year, a move that Savannah expects to unlock funding that will help defray an unspecified portion of the cost. — Bloomberg