By Christian Moess Laursen
Savannah Resources said Monday a new scoping study at its Barroso lithium project in northern Portugal has shown excellent financial potential.
The mining company said the study shows potential $953 million in net present value, with life-of-mine revenue and earnings before interest, taxes, depreciation and amortization of $4.2 billion and $2.8 billion, respectively, at base case.
The project will have an average annual run-of-mine production of 1.5 million tons and a target ore mined of 20.5 million tons over the life of mine, estimated around 14 years, according to the study.
Following the scoping study, the company said it is now focused on the completion of the environmental licensing and the definitive feasibility study, both of which Savannah expects to complete in the second half of 2024.
The Barroso project is scheduled to start producing spodumene concentrate–the industry’s standard lithium raw material–in mid-2026, subject to financing and the definitive feasibility study.
Write to Christian Moess Laursen at [email protected]
Read the full article here
