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Mina do Barroso receives declaration of conformity from the APA
StockMarketWire.com
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Mina do Barroso has achieved another major milestone in the path to production, having received a declaration of conformity from the Agência Portuguesa do Ambiente (APA) on the content of its Environmental Impact Assessment (EIA).
The Mina do Barroso development plan is based on the company's 'green and smart mining' concept, with a strong focus on the efficient use of energy, materials and water in order to reduce the environmental footprint of the life cycles of mineral-based products.
The project's design will involve the investment of over €15 million of initial capital costs into measures to either eliminate or reduce potential social and environmental impacts.
€110 million will be invested in developing the project locally, which will bring a series of benefits to the Boticas region and will create approximately 215 direct jobs and between 500 and 600 indirect jobs to support the project.
David Archer, Savannah's chief executive officer (CEO), said: 'We are delighted with APA's conclusion that the EIA for Mina do Barroso is in conformity with its content requirements.
'The EIA includes comprehensive proposals for our 'community benefit sharing plan' and 'good neighbour commitment' as well as detailed plans for how Savannah will sustainably manage energy, water and material output at the mine.'
At 3:08pm: (LON:SAV) Savannah Resources share price was 0p at 2.7p
Story provided by StockMarketWire.com
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