Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
15 November 2017
Savannah Resources Plc
Environmental Permits Issued for Mahab 4 and Maqail South
Oman Copper Project
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce the issuance of environmental operating permits for both the Mahab 4 and Maqail South mining licence applications in Oman by the Ministry of Environment and Climate Affairs ('MECA'). Savannah is a 65% shareholder in the Omani company Al Fairuz Mining, the holder of the Block 5 licence which includes these two high-grade copper deposits. To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5025W_-2017-11-14.pdf
HIGHLIGHTS:
· Environmental operating permits issued for the Mahab 4 and Maqail South mine developments
· Regulatory approval or "No Objection" received from six out of eight Ministries for the Maqail South and Mahab 4 Mining Licence applications
· Excellent progress towards the grant of mining licences for the first two of a planned series of high grade copper mine developments in Oman
· Final Ministerial approvals expected to be received before the end of 2017 and the Mining Licences in early 2018 by Public Authority for Mining
David Archer, Savannah's Chief Executive Officer said today "The award of environmental operating permits marks a major breakthrough for our 2018 development plans for the mining of the high-grade copper deposits at Mahab 4 and Maqail South. MECA's environmental clearance is expected to be factored positively into the approval process of the remaining Ministries."
Figure 1. Project Location Map (see PDF)
The process for permitting mining activities in Oman is administered through the Public Authority for Mining ('PAM'). Upon submission of the mining licence application, approval or (no objection) is required from eight Ministries and PAM for the licence to be granted. Savannah has now received no objection letters from six of the required ministries for the Maqail South and Mahab 4 applications. Positive discussions are continuing for the remaining Ministries for both projects, with final approvals expected to all be received in Q4 2017.
A summary of the Ministries and their approval status is given in Table 1.
Table 1: Approval Status of Mining Licence Applications
Ministry |
Status (Mahab 4) |
Status (Maqail South) |
Ministry of Defence |
No objection received |
No objection received |
Royal Oman Police |
No objection received |
No objection received |
Ministry of Culture and Heritage |
No objection received |
No objection received |
Ministry of Tourism |
No objection received |
Under review |
Ministry of Environment and Climate Affairs |
Project Environmental Permit Received |
Project Environmental Permit Received |
Ministry of Regional Municipalities and Water Resources |
Under review |
No objection received |
Ministry of Interior |
No objection received |
No objection received |
Ministry of Housing |
Under review |
Under review |
Public Authority for Mining |
Preliminary Economic Assessment to be Submitted |
Preliminary Economic Assessment to be Submitted |
Competent Person and Regulatory Information
The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer |
Savannah Resources plc |
Tel: +44 20 7117 2489 |
David Hignell / Gerry Beaney (Nominated Adviser) |
Northland Capital Partners Ltd |
Tel: +44 20 3861 6625 |
Christopher Raggett / Emily Morris (Joint Broker) |
finnCap Ltd |
Tel: +44 20 7220 0500 |
Jon Belliss (Joint Broker) |
Beaufort Securities Ltd |
Tel: +44 20 7382 8300 |
Charlotte Page / Lottie Wadham |
St Brides Partners Ltd |
Tel: +44 20 7236 1177 |
About Savannah
We are a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.
