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Savannah Resources exits Rio Tinto joint venture to focus on lithium

Savannah Resources exits Rio Tinto joint venture to focus on lithium

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Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) has bowed out of its mineral sands joint venture with Rio Tinto in Mozambique to focus of its lithium assets in Europe. Rio is paying Savannah US$9.5mln cash for its half share in the Mutamba joint venture, money which be used for further development of the Barroso lithium project in Portugal.

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