Name of the Project
Barroso lithium project.

Location
Near Boticas, northern Portugal.

Project Owner/s
Savannah Resources.

Project Description
The Barroso project comprises five main deposits: Grandao, Reservatorio, Pinheiro, NOA and Aldeia.

A scoping study completed in June 2023 has reconfirmed that the project has the potential to be a major European producer of spodumene concentrate. It is based on a mine- and concentrator-only development for the production of spodumene concentrate.

Over the estimated 14-year mine life, the project will have a throughput of about 1.5-million tonnes a year, based on a resource 20.5-million tonnes at 1.05% lithium oxide. Potential production is estimated at 191 000 t/y of 5.5% spodumene.

The project's flowsheet, which has been designed and tested to feasibility study requirements, combines dense-media separation (DMS) and a flotation circuit for the recovery of spodumene into a concentrate.

The processing of ore to produce concentrates will comprise crushing and reclaim; primary comminution and classification; DMS; a flotation preparation circuit; a mica flotation circuit; a spodumene flotation circuit; concentrate and tailings dewatering and storage; water circuits and services.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $953-million and an internal rate of return of 77%, with a payback of 1.3 years.

Capital Expenditure
Initial capital expenditure is estimated at $236-million.

Planned Start/End Date
Production is expected to start in mid-2026.

Latest Developments
Following the endorsement of the environmental impact assessment by the Portuguese environmental regulator and the positive scoping study in June 2023, Savannah is progressing swiftly with the remainder of the environmental licensing process, the definitive feasibility study and the secondary licensing process for project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Savannah Resources, David Archer, tel +44 20 7117 2489.