Berkeley Energia Limited (“Berkeley”)(ASX/LSE:BKY) is focused on bringing its wholly owned Salamanca uranium project into production.
The world class uranium project is being developed in a historic mining in western Spain, about three hours west of Madrid. The Company has received more than 120 European Union and National level approvals required for the initial development.
The project will generate measurable social and environmental benefits in the form jobs and skills training in a depressed rural community. It will also make a significant contribution to the security of supply of Europe’s zero carbon energy needs, where Euratom recently rated “lack of investment in new mines” as the number one risk facing European utilities.
The project benefits from a rare combination of low upfront capital costs of U$81.4m and very low operating costs of US$15.60/lb, placing it at the bottom of the cost curve and enabling it to proceed towards production, even in the current uranium market where low prices have forced many other Tier 1 mines to close.