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Savannah Resources CEO on Rio Tinto deal in Mozambique

Savannah Resources (LON:SAV) CEO David Archer tells Proactive Investors about plans to merge its heavy mineral sands assets in Mozambique with those of mining major Rio Tinto (LON:RIO) to create a world class project.

"It has been about 18 months in the offing and we are delighted that it has culminated in a very innovative combination and really illustrates a bit of a new approach in the mining industry for collaborations  majors and the juniors'" he said.

Archer says combining the projects makes enormous business sense. "From Rio's point of view it provides a lot of benefits, from our point of view we think that we have a secured a position in a project that we think we can define a clear development pathway for into early production and early revenues," he said.

Quick facts: Savannah Resources PLC

Price: 2.388 GBX

AIM:SAV
Market: AIM
Market Cap: £30.98 m
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Excellent results from both projects despite delays, says Savannah Resources Plc

Savannah Resources Plc (LON:SAV) chief executive officer David Archer says the group is intent on moving forward after delays at its Oman projects. “We’ve said some very harsh words to our drilling contractor and we’re looking to a speedy and less problematic programme from here,” says...

on 08/04/2016

2 min read