(Alliance News) - Berkeley Energia Ltd on Wednesday saw its shares fall, after appeals to revoke two permits for the Salamanca project were upheld by the High Court of Justice of Castilla y Leon.
Berkeley Energia is a Spain-focused clean energy company, focused on bringing the Salamanca project in Western Spain to production. Shares in the firm were down 14% in London on Wednesday morning.
According to Berkeley, the High Court has upheld appeals to revoke first instance judgements related to both the Authorization of Exceptional Use of the Land and an Urbanism Licence, annulling both as a consequence. The former was granted in July 2017 by the Regional Commission of Environment and Urbanism, while the latter was granted in August 2020 by the Municipality of Retortillo.
However, Plataforma Stop Uranio, as well as the city council of Villavieja de Yeltes, subsequently filed administrative appeals against both licenses in first instance courts in Salamanca.
Plataforma Stop Uranio - or Stop Uranium Platform - is an activist group opposed to the development of Berkeley Resources' Retortillo mine, part of its flagship Salamanca uranium project.
The administrative appeals were dismissed in September 2022 and January 2023 respectively, before one of the appellants lodged appeals against the High Court. The court has now delivered judgements revoking the first instance judgments, nullifying both licences.
On Wednesday, Berkeley said it "strongly disagrees" with the fundamentals of the court's judgements, and will submit appeals before the Spanish Supreme Court.
By Holly Beveridge, Alliance News reporter
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Berkeley Eng (BKY)