Savannah Nears Barroso Lithium Lease

According to a recent report by Mining.com, Savannah Resources is nearing full ownership of a high-grade lithium lease at its Barroso project in northern Portugal. The Aldeia lease transfer will expand Barroso's resource base, strengthening its future production profile as Europe seeks secure lithium supply for its energy transition. The €3.25 million acquisition is funded partly through a recent oversubscribed equity raise and is expected to unlock funding support, with the European Union designating Barroso a strategic project earlier this year. Savannah plans to develop four open-pit mines capable of producing enough lithium each year to supply batteries for about 500,000 electric vehicles, with production now expected to begin in 2028.