Berkeley Energia says Salamanca mine development progressing well

Shares in Berkeley Energia are down more than 3% as it said developmentof the Salamanca uranium mine in Spain was progressing well with strong European Union backing.

Mining

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It said all infrastructure work was on track for completion as planned. The land acquisition process was almost complete, following the acquisition of a further 100 ha this quarter.

Berkeley Energia added that major equipment had now been ordered and was being fabricated by industry experts, Sandvik in Finland and Vibramech in South Africa.

"The Company has entered into a preliminary agreement with Asturiana de Zinc SAU, a Glencore company, to supply locally sourced reagent from 2018 to 2021 at a cost substantially below the one estimated in the DFS," it said in a statement.

EURATOM was supportive of the Salamanca project as it provides security of uranium supply to the European Community, the company said.

At 13:57 BST, shares in AIM-traded Berkeley Energia were down 3.45% to 42p each.