Multi-commodity developer\u00a0Savannah Resources (AIM:SAV) will become the sole owner of Mina do Barroso lithium project in Portugal through an all-share offer worth $11.9 million.<\/p>\n
The London, England-based company, which already owns 75%\u00a0of the asset, said full ownership would “provide greater exposure” for its shareholders to the project as it\u2019s developed and commercialized.<\/p>\n
Mina do Barroso, arguably one of the most advanced lithium mining concessions in Europe, is expected to become the continent’s first significant producer of spodumene, a hard-rock form of lithium.<\/p>\n Savannah, which acquired a majority stake in the project in May 2017, has maintained a\u00a0fast paced development approach<\/a>\u00a0since.<\/p>\n The company estimates the whole project holds a resource estimate of 20 million tonnes with over 200,000 tonnes contained Li20.\u00a0Additionally, metallurgical test-work results have produced an \u201cexcellent\u201d 6% Li20 low impurity concentrate, which according to chief executive David Archer<\/a>, is \u201cideal\u201d for the\u00a0EV battery industry<\/a>, further validating the project.<\/p>\n Mina do Barroso is set to initially produce 6% Li2O spodumene concentrates destined to China. The open pit mine will also yield a feldspar and quartz co-product to be sold to ceramics industry customers locally and in neighbouring and Spain.<\/p>\n Portugal produces about 11% of the global lithium market, but its output is entirely used to make ceramics and glassware. That\u2019s why Europe relies on lithium imports from Latin America\u2019s \u201cLithium Triangle<\/a>,\u201d as well from Australia and China.<\/p>\n The post Savannah Resources to take full control of lithium mine in Portugal<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Mina do Barroso mine could become the first European supplier of spodumene, a lithium-bearing mineral.<\/p>\n The post Savannah Resources to take full control of lithium mine in Portugal<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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do Barroso mine could become the first European supplier of spodumene, a lithium-bearing mineral.<\/q><\/p>\n