LONDON – Savannah Resources PLC (SAV.LN) said Tuesday it found from a study that the Mutamba mineral sands project will have a 30-year life and that it will need modest investments.
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The Mutamba mineral sands project, for which a first production of ilmenite and non-magnetic concentrate is targeted in 2020, is being developed by Savannah and Rio Tinto PLC (RIO.LN).
Savannah said the project will need a pre-production investment of $152 million and a contingency of $74 million.
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(END) Dow Jones Newswires
May 30, 2017 03:06 ET (07:06 GMT)