Galp steps into lithium sector with Savannah investment

By William Clarke
Published: Wednesday, 13 January 2021

Portuguese oil and gas company Galp will increase its new-energy portfolio with a 10% stake in Savannah Resources’ lithium mine in the country.

The non-binding agreement, announced by Savannah on Tuesday January 12, will see Galp take a 10% stake in Savannah’s Portuguese subsidiary, which owns the Mina do Barroso project, for $6.4 million in cash. Galp will add value through its experience in developing large-scale resource projects in Portugal.

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