Savannah Resources PLC Environmental Permits Issued for Oman Project (5025W)

TIDMSAV

RNS Number : 5025W

Savannah Resources PLC

15 November 2017

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          Status (Maqail 
                                     4)                    South) 
------------------------  ----------------------  ---------------------- 
 Ministry of Defence       No objection            No objection 
                            received                received 
------------------------  ----------------------  ---------------------- 
 Royal Oman Police         No objection            No objection 
                            received                received 
------------------------  ----------------------  ---------------------- 
 Ministry of Culture       No objection            No objection 
  and Heritage              received                received 
------------------------  ----------------------  ---------------------- 
 Ministry of Tourism       No objection            Under review 
                            received 
------------------------  ----------------------  ---------------------- 
 Ministry of Environment   Project Environmental   Project Environmental 
  and Climate Affairs       Permit Received         Permit Received 
------------------------  ----------------------  ---------------------- 
 Ministry of Regional      Under review            No objection 
  Municipalities                                    received 
  and Water Resources 
------------------------  ----------------------  ---------------------- 
 Ministry of Interior      No objection            No objection 
                            received                received 
------------------------  ----------------------  ---------------------- 
 Ministry of Housing       Under review            Under review 
------------------------  ----------------------  ---------------------- 
 Public Authority          Preliminary Economic    Preliminary Economic 
  for Mining                Assessment to           Assessment to 
                            be Submitted            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       Tel: +44 20 
                                 plc                      7117 2489 
    David Hignell / Gerry       Northland Capital        Tel: +44 20 
     Beaney (Nominated           Partners Ltd             3861 6625 
     Adviser) 
    Christopher Raggett         finnCap Ltd              Tel: +44 20 
     / Emily Morris (Joint                                7220 0500 
     Broker) 
    Jon Belliss                 Beaufort Securities      Tel: +44 20 
     (Joint Broker)              Ltd                      7382 8300 
    Charlotte Page /            St Brides Partners       Tel: +44 20 
     Lottie Wadham               Ltd                      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.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 15, 2017 02:00 ET (07:00 GMT)