Berkeley Energy Gets Approval To Begin Initial Salamanca Development

LONDON (Alliance News) - Berkeley Energy Ltd on Wednesday said it has received all EU, national, regional and provincial level approvals required for the initial infrastructure development of the Salamanca uranium project in Spain.

The final stages of the local approvals are well advanced and expected to be finalised well ahead of the target commencement date of mid-2016, the company said. These comprise an urbanism licence and construction authorisation from the Spanish Ministry of Industry, Energy and Tourism.

Berkeley added that it has received a number of approaches from potential financiers, which are now being advanced.

"With these approvals in hand there is a growing realisation that the project is rapidly moving into the development phase. We have now received over 18,000 applicants for the first 200 jobs the Salamanca project will be creating in a rural community which has been hard-hit by inter-generational unemployment," Managing Director Paul Atherley said in a statement.

"The project will generate over 450 direct jobs, and the University of Salamanca has estimated a further 2,300 indirect jobs will be created, making Berkeley one of the largest employers in a community which has suffered badly from the effects of rural desertification," he added.

Shares in Berkeley Energy were trading down 0.2% at 20.70 pence Wednesday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

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