Spanish regulator blocks Berkeley Energia's Retortillo uranium mine

MADRID, July 12 (Reuters) - Spain's nuclear regulator on
Monday blocked Berkeley Energia's planned uranium mine
in the west of the country on safety concerns, in a move that
was welcomed by environmental campaigners and sent the company's
stock plunging.

The CSN regulator said it took the decision due to a lack of
reliability and a high level of uncertainty over how radioactive
waste would be stored at the facility.

The London-headquartered company, whose Madrid-listed shares
slumped over 12% to 0.34 euros, said in a statement it refuted
the CSN's assessment and was disappointed with the decision.

"The Company will strongly defend its position and will
immediately consider the range of legal options available to
it," it said.

The Stop Uranio environmental protection group, which has
been campaigning against the mine's development, welcomed the
decision.

"After a decade of mobilizing, we start to see the light at
the end of the tunnel with a decision based around technical
criteria," it said.

Berkeley's Retortillo project in the western region of
Salamanca received preliminary approval in early 2013 but has
since faced local opposition.

Reuters reported in 2018 that the government would not grant
Berkeley the necessary permits to operate.

The company had said the mine would run for 14 years,
generating investment of over 250 million euros ($297
million)and more than 2,500 jobs in the region.

($1 = 0.8422 euros)
(Reporting by Nathan Allen and Belén Carreño
Editing by Andrei Khalip and Mark Potter)

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