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Berkeley Energia seeks final approvals at Salamanca

Snapshot

The large scale uranium project has the potential to support a long life mining operation, with near surface, high-grade deposits for very low operating costs

Uranium

Quick facts: Berkeley Energia Ltd

Price: 40.0601 GBX

LSE:BKY
Market: LSE
Market Cap: £103.75 m
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  • Looking to develop world-class uranium project in Spain

  • Salamanca Project has near surface, high-grade deposits

  • Strong financial position with A$100mln in cash on balance sheet at end-December

 

What Berkeley Energia does

Berkeley Energia Limited (LON:BKY) (ASX:BKY) is developing a world-class uranium project in a historic mining area in western Spain, about three hours west of Madrid.

Following recent Spanish ministerial approval, the company has now received all the European Union and national level approvals required for the initial development of the Salamanca project and is awaiting local licences.

The large scale uranium area has the potential to support a long-life mining operation, with near-surface, high-grade deposits for very low operating costs.

The group has said the project will generate measurable social and environmental benefits in the form of jobs and skills training in a depressed rural community.

It believes the project will also make a significant contribution to the security of supply of Europe’s zero-carbon energy needs.

 

How it's doing

Berkeley Energia Ltd (LON:BKY) is working on securing approvals to start building the Salamanca mine and bring it into production.

In April 2020 the company reported on continuing engagement with the relevant authorities in a collaborative manner in order to facilitate the timely resolution of the pending approvals required to commence construction of the mine

Berkeley said that its Spanish executives had met and had a constructive dialogue with government officials with additional technical documentation and clarifications provided to the authorities.

Battery metals

Berkeley also intends to move into battery and EV metals on its deposit.

The first phase of a 13-hole programme will see six holes drilled, with the company targeting lithium, cobalt, tin, tungsten and rare earths - several of which have previously been mined in commercial quantities in the area.

Four holes from the programme have so far been drilled.

They were drilled in areas previously mined for tin and lithium.

Assay results revealed multiple narrow zones of tin and lithium mineralisation. 

 

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