https://www.miningweekly.com
Charter|Energy|Mining|Nuclear|PROJECT|SECURITY
Charter|Energy|Mining|Nuclear|PROJECT|SECURITY
charter|energy|mining|nuclear|project|security

Berkeley seeks $1bn in damages from Spain over uranium mine dispute

28th May 2024

By: Reuters

  

Font size: - +

MADRID - Australian mining group Berkeley Energia said on Tuesday it had filed a request for an arbitration to seek $1-billion in damages from the Spanish government after it refused to give final approval for its uranium mine project.

The Retortillo project, Berkeley's main asset, received preliminary approval in 2013, but Spain's Energy Ministry refused to approve the project located near the central city of Salamanca first in 2021 and again in 2023.

A spokesperson for the Energy Ministry said the government blocked the project based on a report from the country's Nuclear Security Council but declined to comment on the arbitration.

Berkeley filed an arbitration at the World Bank's International Centre for Settlement of Investment Disputes, the company said in a filing to the Madrid stock market regulator.

It accuses the government of infringing on its rights under an international agreement known as the Energy Charter Treaty, designed to promote energy security through the operation of more open and competitive energy markets.

Berkeley said it was still committed to the project and was ready to collaborate with Spain for a resolution and hopeful for near-term discussions.

The company has said in the past the mine would require a €250-million investment and would have created more than 2 500 jobs.

Shares in Berkeley were up 5.4% following the arbitration disclosure.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 June 2024
Magazine round up | 21 June 2024
21st June 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.289 0.325s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: