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Berkeley affirms commitment to Salamanca project amid investment dispute

10th April 2024

By: Creamer Media Reporter

     

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Uranium project developer Berkeley Energia remains steadfast in its commitment to the Salamanca project and remains open to discussions with Spanish authorities, the company said on Wednesday.

This comes as the company announced that it would refer its investment dispute with Spain to international arbitration.

In November last year, subsidiary Berkeley Exploration Limited submitted a written notification of an investment dispute to the Prime Minister of Spain and the Ministry for the Ecological Transition and the Demographic Challenge, informing them of the nature of the dispute and the Energy Charter Treaty breaches.

Berkeley said that the Spanish government had not yet engaged in any discussions related to the dispute and that it had “no option”, but to take action and enforce its rights at the Salamanca project through international arbitration.

The company’s dispute with Spain traces back to 2021 when the government approved amendments to its draft climate change and energy transition Bill, specifically targeting the exploitation of radioactive minerals, such as uranium.

Despite holding legal rights for the investigation and exploitation of its mining projects, including Salamanca, Berkeley found itself hindered by the new legislation. The company’s efforts faced further setbacks in November 2021, when it received formal notification of the rejection by the Nuclear Safety Council (NSC). Berkeley refutes the NSC’s assessment.

Edited by Creamer Media Reporter

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