Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF)'s (Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF)) David Archer joins Proactive London's Katie Pilbeam to talk about their agreement with Rio Tinto to cancel their joint venture and will receive US$9.5m cash for their mineral sands operations in Mozambique.
Rio Tinto will take full responsibility for the Mutamba project (Mining Concessions 9228C and eliminates the need for cash resources and ongoing management time to be devoted to what has become a non-core asset for Savannah following the increasing significance of its wholly owned Barroso Lithium Project in Portugal.