Savannah Resources Plc

Savannah Resources Plc is a junior lithium development company headquartered in London, United Kingdom, operating primarily in Europe. The company's portfolio consists of 1 development project. Key assets include Barroso. The company is a natural resources development entity focused on advancing a single, significant project toward production. Its business model leverages conventional, well-established industrial practices for mining and processing to minimize operational risk and environmental impact. The operational approach includes the production of a primary concentrate and valuable by-products, which enhances project economics and reduces waste streams. The processing design utilizes a standard flowsheet with flotation sections engineered to operate at near-neutral pH, supported by an environmentally considerate reagent system. A key operational characteristic is an innovative, self-sustaining water management system that combines onsite collection with significant recycling, eliminating the need for external water sources. The entity's competitive positioning is strengthened by its plan to use a dry-stack tailings facility, which is inherently more stable and environmentally secure than traditional wet tailings dams, aligning with modern best-practice standards for responsible resource development.

Strategic focus centers on advancing a key development asset through its final study phases and environmental licensing to reach a final investment decision. A core component of this strategy is the execution of a formal Strategic Partnering Process to secure commercial and financial support from established industry groups. Management's approach includes a defined decarbonization strategy aiming for a net-zero carbon product, underpinned by initiatives to transition to a battery-powered mining fleet and secure a 100% renewable energy supply for processing operations. The organization also plans for long-term growth by actively assessing new exploration targets and preparing to participate in future government-led tender processes for mineral rights. Near-term objectives involve completing a Definitive Feasibility Study and the final compliance phase of the environmental licensing process, which are critical steps for de-risking the asset and securing a full development financing package. The company aims to align its production timeline with forecasted tightening market conditions.

The board of directors is composed of 7 members, including 2 executive directors and 5 non-executive directors, with 4 of the 7 members deemed independent, ensuring a majority of independent oversight. Recent leadership changes in 2024 included the appointment of a new Chief Executive Officer to the board in April and a new, experienced Non-Executive Chairman in June, who brings nearly 10 years of direct sector experience. Governance is structured around the Quoted Companies Alliance Corporate Governance Code and features 3 primary committees: the Audit and Risk Committee, the Nomination and Remuneration Committee, and a newly formed Sustainability Committee. The Sustainability Committee includes 2 executive and 2 non-executive directors, underscoring a commitment to integrated oversight. The governance framework was refined in 2024 to consolidate the nomination and remuneration functions and establish the new sustainability-focused committee, reflecting an evolution of board-level priorities as the company advances toward development.

The organization's sustainability framework is demonstrated by its pursuit of ISO 14001 certification for its environmental management system, which provides a structure for continuous improvement in environmental performance. Key environmental commitments integrated into the project design include a self-sufficient water management plan based on collection and recycling, and a dry-stack tailings facility to avoid the risks of conventional wet dams. Social strategy is guided by a formal Stakeholder Engagement Framework, a Social Impact Assessment, and a public Grievance Mechanism to ensure transparent and collaborative community relations. The company has also established a dedicated Sustainability Committee at the board level to oversee environmental and social initiatives. A core commitment is the comprehensive and progressive rehabilitation of all impacted land and water courses. The company reported zero health and safety incidents or lost-time injuries in 2024, reflecting its focus on operational safety.

A significant strategic partnership was formed in June 2024 with AMG Critical Materials N.V., which became the company's largest shareholder with a 15.77% equity stake following a substantial investment. This partnership includes a heads of terms agreement for future product offtake and a co-operation agreement to jointly study the feasibility of constructing a downstream refinery. As of the 2024 report date, other substantial shareholders include Al Marjan Ltd with a 12.69% interest, Mário Nuno dos Santos Ferreira holding 10.00%, and Grupo Lusiaves SGPS, S.A. with a 9.45% stake. The group's primary operational activities are conducted through its wholly-owned subsidiary, Savannah Lithium Unipessoal Limitada. The company also has a non-operational subsidiary, Matilda Minerals Limitada, related to legacy activities that are being wound down. The strategic investment by AMG is intended to support the arrangement of a full financing solution for project development.