Berkeley Energia Limited Fully funded Salamanca to commence construction (0274Z)
December 12 2017 - 1:00AM
UK Regulatory
TIDMBKY
RNS Number : 0274Z
Berkeley Energia Limited
12 December 2017
BERKELEY ENERGIA
NEWS RELEASE | 12 December 2017 | AIM/ASX: BKY
Berkeley Energia's fully funded Salamanca mine to commence
construction in the new year
Berkeley Energia is pleased to announce that, with the financing
now in place, the Company is awarding major contracts and filling
key management positions for construction of the Salamanca mine,
commencing in the new year.
The Company is committed to Spanish engineering excellence and
has selected Sanchez y Lago, one of Spain's major construction
companies as the contract miner. Sanchez y Lago has over 35 years
of mining experience around the world and currently operates at
Atalaya's Rio Tinto mine in Spain.
Amec Foster Wheeler, now part of the FTSE 250 listed Wood Group,
has been selected to deliver a fixed price EPC solution for the
construction of the mine, plant and associated infrastructure. The
Wood Group is a leading global engineering group with extensive
experience in delivering uranium mining and processing
solutions.
The mining and EPC contracts are expected to be executed in the
new year, with mobilization of equipment to occur shortly
thereafter. Within these contracts, a key focus is cost management
to ensure that the project is built and operated within budget and
in a timely manner.
As part of its commitment to reduce unemployment in the region,
approximately 50% of new staff required for the first phase of
construction activity will be recruited from the local villages of
Retortillo and Villavieja. A number of these future employees will
have attended the Company's skills training programmes.
Following consultations with the residents of the local
community a number of infrastructure improvements to neighboring
villages have been identified, which the Company is looking to
progress in the coming months.
In addition to the selection of contractors the Company is
making key appointments to the owner's team having recently
appointed Mr Sergio Arenas as Process Superintendent. Mr Arenas has
over a decade of international operating experience and joins an
exceptional Spanish management team with a strong track record of
delivery on projects.
Managing Director, Paul Atherley, commented:
"Having completed the financing, we have selected our preferred
mining and construction contractors and will be pouring concrete in
the new year.
We are commencing construction just as the industry leaders
Cameco and Kazatomprom implement major production cuts at their
Tier I mines which will tip the uranium market into the long
awaited supply deficit during 2018."
For further information please contact:
Berkeley Energia Limited +44 20 7478 3900
Paul Atherley, Managing Director info@berkeleyenergia.com
Hugo Schumann, Corporate
Manager
WH Ireland Limited (Nominated
Adviser) +44 20 7220 1683
Tim Feather, Director
Jessica Cave, Assistant Director
Alex Bond, Executive
Peel Hunt LLP (Joint Broker) +44 20 7418 8900
Ross Allister
Chris Burrows
Buchanan +44 207 466 5000
Bobby Morse, Senior Partner BKY@buchanan.uk.com
Anna Michniewicz, Account
Director
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFFSSSEFWSEIE
(END) Dow Jones Newswires
December 12, 2017 02:00 ET (07:00 GMT)
Berkeley Energia (LSE:BKY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Berkeley Energia (LSE:BKY)
Historical Stock Chart
From Apr 2023 to Apr 2024