Berkeley Energia financing coverage on The Telegraph

“Uranium miner Berkeley Energia wins £93m backing from Oman.”

 

“Aim-listed uranium miner Berkeley Energia has won $120m (£93m) backing from the sovereign wealth fund of Oman to finance construction of its mine in Spain.”

“The first tranche of cash will come in the form of a $65m loan that will convert into shares worth 50p, giving the fund a 28pc holding in Berkeley. This will fund the remainder of the construction of the company’s mine near Salamanca in northwestern Spain.”

Read the full article on The Telegraph here.

Berkeley Energia financing sovereign wealth fund $120 million investment

Key milestone in the construction of the Salamanca mine, following the delivery of the primary crusher to site

Berkeley Energia is pleased to announce a key milestone in the construction of the Salamanca mine, following the delivery of the primary crusher to site.

The crusher is the major piece of processing equipment for the operation and its arrival marks a significant milestone for the Company, as it has progressed from the development phase to the construction phase.

The 400 tonne per hour crusher was manufactured by Sandvik Group in Finland, one of the world’s leading suppliers and was one of the long lead items included in the use of proceeds from the equity raise completed in Q4 2016.

Our Managing Director Paul Atherley commented:

“The arrival of the crusher marks a significant milestone during the current construction phase for the Salamanca mine, the only major uranium mine in construction in the world today.

The mine will be one of the world’s lowest cost and one of the ten largest producers when in production.

There are currently some 70 staff and contractors at site. This number will quickly ramp up as construction continues.  We are encouraged by the local support and continue to recruit heavily from the local community and are delighted that people we have trained are now being offered employment.”

 

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