Berkeley Energia Ltd - clean energy company focused on bringing wholly owned Salamanca project in Spain into production - Says wholly owned subsidiaries Berkeley Minera Espana SLU and Berkeley Exploration Ltd submit investment dispute to Spanish government concerning the proposed construction of a uranium plant in Salamanca. Submission discusses nature of the dispute and identifies relevant breaches in Energy Charter Treaty. Proposes to seek "prompt negotiations for an amicable solution".
Salamanca's proposed uranium project rejected in November 2021 by Spanish government after Nuclear Safety Council issued an unfavourable report in July 2021. At the time Berkeley rejected decision. Said decision was "arbitrary" with "technical issues" used as justification to issue the report which was "lacking in both technical and legal support."
The company says "whilst [its] focus is on resolving the current permitting situation, and ultimately advancing the Salamanca project towards production, the company will continue to strongly defend its position and take all necessary actions to preserve its rights."
Current stock price: 17.80 pence each, up 7.9% on Friday in London
12-month change: up 34%
By Chris Dorrell; chrisdorrell@alliancenews.com
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Berkeley Eng (BKY)