– UK, London – Savannah Resources plc (LON: SAV / FWB: SAV / SWB: SAV), the European lithium development company, today announced the appointment of Rick Anthon as the new Chairman of its Board of Directors, effective on 25 June 2024, replacing Matthew King who will retire from the Board at the AGM on 25 June 2024.
The Board also confirmed the appointment of current Non-Executive Director Diogo da Silveira as Deputy Chair, and the resignations of Mary Jo Jacobi and James Leahy from the Board effective from 25 June 2024.
About Rick Anthon
Rick Anthon is an executive and qualified lawyer with over 30 years of experience, that adds significant lithium and wider mining sector knowledge to the Board. Having worked with Allkem from its initial IPO as a small exploration company, he was Director of Corporate Development when the ASX-listed lithium group underwent an AUD 16Bn merger with Livent in 2023 to form NYSE-listed Arcadium Lithium, now one of the world’s largest producers of finished Lithium chemicals.
Rick Anthon, Chairman-elect said: “I am excited and honoured to be joining the Board of Savannah as Chair. With a great team in place, a world class project and strong partners and shareholders, Savannah is poised to become a key player in the European Battery supply chain, while significantly benefiting all our Portuguese stakeholders. I look forward to using my experience in the lithium sector to help realise Savannah’s full potential as we move into the next key phase of the Company’s growth.”
Rick Anthon is a seasoned Lithium industry professional, having worked full-time in the Lithium sector for almost 10 years. He was most recently the director of Corporate Development at Allkem Limited. He worked with Allkem from its initial IPO as a small exploration company up until its recent AUD 16Bn merger with Livent to form NYSE-listed Arcadium Lithium, now one of the world’s largest producers of finished Lithium chemicals.
At Allkem, Rick Anthon worked on several major transactions including partnering with Toyota Tsushu Limited to develop the Olaroz Lithium Facility and the Naraha Lithium Hydroxide Plant, the establishment of Advantage Lithium Corp, several major capital market fundraisings, including the merger of Orocobre with Galaxy Resources Limited, creating Allkem which ultimately merged with the Livent Corporation to form Arcadium Lithium. Mr Anthon also worked closely with the Project teams for both brine and hard rock projects and Allkem’s community and sustainability team.
About Savannah
Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal, the largest battery-grade spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project, Savannah will help Portugal play an important role in providing a long-term, locally sourced, lithium raw material supply for Europe’s rapidly developing lithium battery value chain. After the Environmental Licence was granted in May 2023 and the Scoping Study confirmed the economic potential of the Project in June 2023, production is now targeted and on track to begin in 2026. At that stage, Savannah will start producing enough lithium (contained in c.190,000tpa of spodumene concentrate) for approximately half a million vehicle battery packs per year, equal to a significant portion of the European Commission’s Critical Raw Material Act goal of a minimum of 10% of European endogenous lithium production set for 2030. Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its impact on the environment is minimized and the socio-economic benefits that it can bring to all its stakeholders are maximized.
In June 2024, Savannah entered a strategic partnership with AMG Critical Materials N.V., the global critical materials business, and established lithium market participants. AMG has invested GBP 16m in Savannah in exchange for a 15.8% stake in the Company and a 5-year, 45ktpa spodumene offtake agreement. This investment alongside existing cash provides Savannah with the finance required to take the Project to a Final Investment Decision point. AMG can increase its offtake to 90ktpa for 10 years if it provides an acceptable full-project funding solution for the Project’s construction.
The Company is listed and regulated on the London Stock Exchange’s Alternative Investment Market and the Company’s ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange under the symbol FWB: SAV, and the Börse Stuttgart under the ticker “SAV”.
For more: https://www.savannahresources.com/
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