Berkeley Energia remains “firmly committed” but need local approvals

According to Proactiveinvestors: “Over the past decade we have invested over €70mln into the Salamanca mine which is located in a region suffering from some of the highest levels of youth unemployment within the European Union.”

The mine developer today issued its latest quarterly report

Read more: https://www.proactiveinvestors.co.uk/companies/news/207066/berkeley-energia-remains-firmly-committed-but-need-local-approvals

More than a thousand from local community sign petition in support of the Salamanca Project

The entirety of the population of Retortillo, half the population of Villavieja de Yeltes and many more residents from other towns surrounding the project have signed a petition to show their support for Berkeley‘s Salamanca mine. The petition currently has nearly 1,500 signatures.

At a recent event organised in Retortillo, members of the Berkeley staff joined local residents to publicise their support for Berkeley’s €250 million investment, which will create over 2,500 direct and indirect jobs.

La Gaceta featured a large article on the event highlighting that local support for the project is ‘massive and unanimous’ and ‘supporting and developing the local communities are two of the foundations on which Berkeley’s project is based.’

Local residents cited job creation, which will allow young people to remain in their hometowns and reverse decades of depopulation, as a key reason for signing the ‘Si A La Mina’ petition. Already, the majority of the team on site have been recruited from the local area and the Company looks forward to adding to this workforce in the coming months.

To date, the Company has received over 22,500 job applications with 400 of those coming from villages surrounding the project and of those, over 110 from Villavieja alone, which represents 25% of the population of the village.

Paul Atherley, Managing Director of Berkeley Energia, said:

“We are thrilled that so many local residents turned out to support our project over the past few days demonstrating the huge amount of support for the Salamanca mine, which is located in a region experiencing some of the highest levels of youth unemployment in the European Union.

Earlier this year the Minister of Economy and Finance for Castilla y Leon, Pilar del Olmo, heralded the investment that the Company is making in the region, commenting that the Salamanca mine will bring ‘a generation of direct employment.’

Development of the mine will stimulate the return of services such as schools, petrol stations and transport to the local villages and will help to bring back some of the 25,000 mainly young people who left the area last year to look for employment.

If young people want to stay and take on the meaningful careers that are created by economic development, they will get married and hopefully have families which will rejuvenate once-thriving local villages.

We are incredibly proud of our investment and the rejuvenation it will bring to the local community.”

MIDAS SHARE TIPS UPDATE: Uranium miner Berkeley Energia digs in before a nuclear boost

By JOANNE HART, FINANCIAL MAIL ON SUNDAY

“Uranium miner Berkeley Energia is based in Salamanca, 130 miles west of Madrid.

Last week, the group moved from Aim to the main market of the London Stock Exchange and listed on the Spanish market so investors all over Europe can now buy the stock in euros.

Berkeley is in a strong financial position, having signed a deal with the sovereign wealth fund of Oman to provide up to $120 million (£90 million) – enough to fund its Salamanca mine into production.”

To read the full Daily Mail article please click here.

Berkeley Energia to start construction work on Salamanca in the New Year [Proactive Investors]

Berkeley Energia Ltd (LON:BKY) is awarding major contracts and filling key management positions for construction of the Salamanca mine, commencing in the New Year.

Amec Foster Wheeler, now part of the FTSE 250 listed Wood Group, has been selected to deliver a fixed price engineering, procurement and construction (EPC) solution for the construction of the mine, plant and associated infrastructure.

Read the full article on Proactive Investors.

Berkeley defies the uranium gloom [Mining Journal]

That isn’t to say 2017 has been uneventful; Berkeley has made significant progress with early works, continued its exploration programme and secured US$120 million of finance at the height of the uranium bear market for a project set to make the company a top-10 producer.

These achievements – delivered when the spot uranium price is hovering around a 12-year low – are testament to the project, management team and expected market resurgence for the nuclear raw material.

Read the full article on Mining Journal

Berkeley Energia uranium mining journal

Berkeley Energia welcomes Deepankar Panigrahi to the board as funds from Oman roll in [Proactive Investors]

Berkeley Energia Limited (LON:BKY,ASX:BKY) has received the initial US$65mln tranche of funding for its Salamanca project from the Sultanate of Oman’s sovereign wealth fund.

The payment means that capital costs for production at the Salamanca mine – the only uranium mine under construction anywhere in the world – are fully funded.

Read the full article on Proactive Investors.

 

Berkeley Energia’s Oman deal prompts price target upgrade by WH Ireland [Proactive Investors]

WH Ireland has increased its target price for Berkeley Energia Ltd (LON:BKY, ASX:BKY) to reflect the recent financing agreement for the Salamanca project.

The Sovereign Wealth Fund of the Sultanate of Oman is to provide up to US$120m to fully fund the Salamanca mine into production, which WH Ireland analyst Paul Smith thinks is an outstanding achievement in the current environment for uranium explorers.

Read the full article on Proactive Investors.