Berkeley Energia Pleased By Election Result Near Salamanca Project

LONDON (Alliance News) - Berkeley Energia Ltd on Tuesday said it has been awarded three exploration licences in Spain and is pleased by the result of a recent election in Retortillo near its Salamanca project.

Shares in Berkeley Energia were up 24% at 19.81 pence in morning trade.

Retortillo is a Spanish village near Salamanca where, during its municipal election, four out of five council seats were won by candidates who support Berkeley Energia's project, it said.

Berkeley Energia Managing Director & Chief Executive Paul Atherley said: "We are pleased for the villagers who have been campaigning hard for the investment to now be so well represented on the municipal council. We look forward to working with the new council in achieving the outcome that the community wants.

Retortillo is also located just 40 kilometres from the three new licences, which cover an area of 266 square kilometres in northwestern Spain and are prospective for the battery and electric vehicle metals lithium, tungsten, tin, cobalt, and rare earth elements. Berkeley Energia intends to define and test drill these targets.

Atherley said: "The demand for clean technology metals to support the global battery and EV industries is taking off. The urgent need to explore for these critical metals to provide reliable supply within the EU comes at a time when some commentators are suggesting that governments are threatening to restrict supply of these important components of the green energy revolution."

Late last month, China threatened to restrict US access to rare earth minerals, as part of the two countries' escalating trade war. The US sources 80% of its rare earth minerals from China.

Berkeley Eng