According to Mining Weekly, Savannah Resources, a London-listed company, announced on Monday that its lithium project in northern Portugal has seen a 40% increase in reserves following additional exploration.

　　In its announcement, the company stated that the Barroso spodumene deposit has ore reserves of 39 million tons, higher than the previously estimated 28 million tons. This deposit was already Europe’s largest spodumene deposit.

　　In a statement, Savannah said that “the substantial increase in resource estimates” has enhanced the project’s strategic significance.

　 “This represents a significant contribution to the raw materials supply chain for Europe’s battery value chain and will also bring substantial long-term benefits to the local region,” the company said.

　　The company plans to build four open-pit mines in the Barroso region to extract battery-grade lithium needed to supply 500,000 electric vehicles. Production is expected to begin in 2027.

　　Savannah’s success in Portugal is highly significant for Europe in reducing its reliance on foreign imports of lithium and other minerals critical to the transition away from fossil fuels.

　　However, Savannah is facing strong opposition from local residents and environmentalists, as the project is located in the Barroso region, which has already been designated a World Agricultural Heritage site.

　　The Barroso project is the sole initiative of Savannah Company, which is working diligently to complete the final feasibility study and the final environmental permit application for the project before the end of the year.