Environmental Permits Issued for Oman Project

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 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: [phone]
David Hignell / Gerry Beaney (Nominated Adviser)	Northland Capital Partners Ltd	Tel: [phone]
Christopher Raggett / Emily Morris (Joint Broker)	finnCap Ltd	Tel: [phone]
Jon Belliss (Joint Broker)	Beaufort Securities Ltd	Tel: [phone]
Charlotte Page / Lottie Wadham	St Brides Partners Ltd	Tel: [phone]

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.

 

END

 

 

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