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Savannah Resources appoints strategic advisor for Mutamba project
14th Oct 2020 12:58
(Sharecast News) - Savannah Resources announced the appointment of Farview Solutions as its strategic adviser on Wednesday, to help guide the development path for the Mutamba Mineral Sands Project in Mozambique and recommend associated strategic opportunities.
The AIM-traded firm said Fairview's owner Bruce Griffin would be primarily responsible for advising Savannah in relation to Mutamba.
As well as being the owner of Farview Solutions, Savannah said Griffin was also commercial director for Sheffield Resources, and a non-executive director of Titanium Corporation.
He was formerly the senior vice-president of strategic development for Lomon Billions Group, which is the world's third largest producer of high-quality titanium dioxide pigments.
Griffin also held executive management positions in several resource companies, including chief executive officer of independent mineral sands consultant TZMI, a director of development-stage titanium project World Titanium Resources, and vice-president of titanium for BHP.
Mutamba is located in Mozambique, and contains "one of the world's largest" undeveloped mineral sands deposits, comprising an indicated and inferred mineral resource of 4.4 billion tonnes, grading 3.9% total heavy minerals.
Savannah said the project's granted 25-year mining leases covered an area of 537 square kilometres.
Savannah is the operator of Mutamba, which is held in joint venture with Rio Tinto.
The company holds a 20% interest in the project, and would increase that to 35% on delivery of the pre-feasibility study, which was currently underway, and ultimately to 51% on delivery of a feasibility study.
"Bruce is one of the industry's most experienced executives and has a deep understanding of Mutamba from his time at TZMI, where he was the chief executive officer, whilst it undertook the scoping study of the project," said CEO David Archer.
"Mutamba is one of the largest undeveloped mineral sands deposits in the world and Bruce will help Savannah define the best value adding development, commercial and corporate paths , both to help unlock the value of the project and to sequence it into playing a major role in the production of titanium feedstocks for international industry."
At 1230 BST, shares in Savannah Resources were flat at 2.04p.
The AIM-traded firm said Fairview's owner Bruce Griffin would be primarily responsible for advising Savannah in relation to Mutamba.
As well as being the owner of Farview Solutions, Savannah said Griffin was also commercial director for Sheffield Resources, and a non-executive director of Titanium Corporation.
He was formerly the senior vice-president of strategic development for Lomon Billions Group, which is the world's third largest producer of high-quality titanium dioxide pigments.
Griffin also held executive management positions in several resource companies, including chief executive officer of independent mineral sands consultant TZMI, a director of development-stage titanium project World Titanium Resources, and vice-president of titanium for BHP.
Mutamba is located in Mozambique, and contains "one of the world's largest" undeveloped mineral sands deposits, comprising an indicated and inferred mineral resource of 4.4 billion tonnes, grading 3.9% total heavy minerals.
Savannah said the project's granted 25-year mining leases covered an area of 537 square kilometres.
Savannah is the operator of Mutamba, which is held in joint venture with Rio Tinto.
The company holds a 20% interest in the project, and would increase that to 35% on delivery of the pre-feasibility study, which was currently underway, and ultimately to 51% on delivery of a feasibility study.
"Bruce is one of the industry's most experienced executives and has a deep understanding of Mutamba from his time at TZMI, where he was the chief executive officer, whilst it undertook the scoping study of the project," said CEO David Archer.
"Mutamba is one of the largest undeveloped mineral sands deposits in the world and Bruce will help Savannah define the best value adding development, commercial and corporate paths , both to help unlock the value of the project and to sequence it into playing a major role in the production of titanium feedstocks for international industry."
At 1230 BST, shares in Savannah Resources were flat at 2.04p.