• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Battery Metals Market
    Battery Metals News
    Battery Metals Stocks
    • Battery Metals Market
    • Battery Metals News
    • Battery Metals Stocks
    lithium investing

    Savannah Upgrades Lithium Resource for Mina do Barroso

    Priscila Barrera
    Sep. 10, 2018 05:00PM PST
    Battery Metals
    ASX:RIO

    This is the third mineral resource estimate upgrade for the Portuguese project in less than seven months. There is potential to expand the resource even further, says the company.  

    Diversified miner Savannah Resources (LSE:SAV) has increased the resource estimate for its Mina do Barroso lithium project in Portugal by 44 percent, the company announced on Monday (September 10).

    The overall mineral resource estimate for the asset now stands at 20.1 million tonnes at 1.04 percent lithium oxide for 209,000 tonnes of contained lithium oxide, with the Grandao deposit increasing by 64 percent to 16.4 million tonnes at 1.04 percent lithium oxide.

    “Today’s mineral resource estimate increase, shows that Mina do Barroso is shaping up to be Europe’s most strategically significant mineral discovery in recent years,” David Archer, CEO of Savannah, said.

    This is the third mineral resource estimate upgrade for the Portuguese project in less than seven months, with potential to expand the estimate even further, according to the company.

    “The increasing mineral resource base of the project means we have a long-life asset that can anchor the upstream end of the European lithium value chain, with Europe being the second largest consumer of lithium in the world,” Archer added.

    Additionally, the company announced an updated exploration target for Mina do Barroso, calculated at 9 to 15 million tonnes at 1-1.2 percent lithium oxide, giving a potential mineral inventory of over 30 million tonnes for the project.

    “Alongside this, at a commercialization level we are making good progress with the feasibility study and continue to target making a mine development decision next year,” Archer said.

    The portuguese project will produce spodumene concentrate from hard-rock lithium. The company is looking to start production by 2020.

    Aside from the Mina do Barroso in Portugal, Savannah is developing two lithium projects in Finland and copper assets in Oman.

    The company has also partnered with mining giant Rio Tinto (ASX:RIO,NYSE:RIO, LSE:RIO) to develop the Mutamba Mineral Sands project in Mozambique.

    On Monday, shares of Savannah were up 1.8 percent in London, closing at GBX 8.50.

    Don’t forget to follow us at @INN_Resource for real-time news updates!

    Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

    lse:savsavannah resourceslse:riolithium investingasx:rionyse:rio
    The Conversation (0)

    Go Deeper

    AI Powered
    Lithium periodic symbol and electric vehicle.

    7 Biggest Lithium-mining Companies in 2025

    Text saying "lithium" overlaid on stock chart with a globe in the background.

    Top 9 Global Lithium Stocks of 2025

    Latest News

    Homerun Resources Inc. Signs Binding LOI for the Acquisition of Additional Mineral Rights in the Santa Maria Eterna Silica Sand District

    Trading Halt

    ALTECH - CERENERGY Battery Prototype Reaches Key Milestones

    Altech Batteries Ltd CERENERGY Battery Prototype Reaches Key Milestones

    Corporate Presentation

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Battery Metals Stocks

    International Lithium Corp.

    ILC:CA

    Lithium Africa

    Atlantic Lithium

    A11:AU

    Galan Lithium

    GLN:AU

    Jindalee Lithium

    JLL:AU

    CleanTech Lithium

    CTLHF
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×