https://www.miningweekly.com

Berkeley Energia targets further cost reductions at the Salamanca mine

30th April 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Clean energy-focused Berkeley Energia has completed the financing for its Salamanca uranium project, in Spain, and is in the process of undertaking detailed final reviews to ensure the company has the most optimal capital and operating costs.

A final selection of contractors is also being finalised.

During the quarter ended March 31, the company made steady progress in bringing the project near the point where full construction can begin.

The main focus has been on carrying out a detailed project review, which is aimed at ensuring that the optimal capital and operating costs are achieved.

However, while the tone of the uranium market appears to be "cautiously more optimistic", Berkeley on Monday noted that production cuts continue to be announced at uranium mines across the world following the announcement of production cuts from Cameco and Kazatomprom.

The spot price of uranium, the company noted, currently sits at $21/lb.

However, against the backdrop of a weakening uranium price forcing production cuts, demand still continues to grow.

The Salamanca mine is scheduled to reach production as the market enters the long-awaited supply/demand deficit that industry experts have called both fundamental and unavoidable.

However, the project continues to receive strong support from key stakeholders in Spain, reflecting the growing awareness of the benefits the investment will bring to a community that is experiencing some of the highest levels of unemployment in the European Union, the company stated.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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